60,053 Shares in Blackstone Inc. $BX Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 60,053 shares of the asset manager’s stock, valued at approximately $7,066,000.

A number of other large investors also recently modified their holdings of the company. Redwood Financial Network Corp increased its stake in Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC raised its stake in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the period. Zacks Investment Management boosted its stake in Blackstone by 2.1% in the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock worth $590,000 after purchasing an additional 71 shares during the period. Brogan Financial Inc. increased its holdings in Blackstone by 2.5% in the 3rd quarter. Brogan Financial Inc. now owns 2,904 shares of the asset manager’s stock valued at $496,000 after acquiring an additional 72 shares during the last quarter. Finally, SlateStone Wealth LLC grew its position in shares of Blackstone by 1.9% during the fourth quarter. SlateStone Wealth LLC now owns 3,997 shares of the asset manager’s stock valued at $616,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 2.1%

Shares of NYSE:BX opened at $140.87 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $127.05 and a two-hundred day simple moving average of $122.45. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm has a market capitalization of $105.74 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Blackstone’s revenue was up 35.9% compared to the same quarter last year. On average, equities analysts predict that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is 115.44%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. The Goldman Sachs Group lifted their price target on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Piper Sandler raised their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Sanford C. Bernstein assumed coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

Insider Buying and Selling

In other Blackstone news, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares in the company, valued at $117,883,632.95. This represents a 3.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the sale, the insider directly owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This represents a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. Corporate insiders own 1.00% of the company’s stock.

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.