Koa Wealth Management LLC Purchases 7,555 Shares of Blackstone Inc. $BX

Koa Wealth Management LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,153 shares of the asset manager’s stock after acquiring an additional 7,555 shares during the period. Blackstone comprises approximately 2.5% of Koa Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Koa Wealth Management LLC’s holdings in Blackstone were worth $3,467,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Jain Global LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $9,116,000. Fayez Sarofim & Co increased its stake in Blackstone by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after purchasing an additional 24,237 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Blackstone by 2.1% during the third quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares during the period. Greenup Street Wealth Management LLC grew its holdings in shares of Blackstone by 1,034.3% in the fourth quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock worth $2,149,000 after purchasing an additional 12,711 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Blackstone by 9.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock valued at $15,561,000 after buying an additional 8,321 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group reduced their price target on Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada assumed coverage on Blackstone in a report on Monday, June 8th. They issued an “outperform” rating for the company. Citizens Jmp reduced their target price on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $149.36.

Blackstone Stock Down 2.1%

BX stock opened at $120.88 on Wednesday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. The business’s 50 day moving average price is $119.68 and its two-hundred day moving average price is $127.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. As a group, analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.