17,494 Shares in Blackstone Inc. $BX Bought by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,494 shares of the asset manager’s stock, valued at approximately $2,058,000. Blackstone comprises about 1.2% of Royal Capital Wealth Management LLC’s portfolio, making the stock its 21st biggest holding.

A number of other large investors also recently made changes to their positions in the company. Ares Financial Consulting LLC purchased a new stake in Blackstone in the 4th quarter valued at about $28,000. Bell Investment Advisors Inc bought a new position in shares of Blackstone in the second quarter valued at approximately $30,000. Addison Advisors LLC bought a new stake in Blackstone during the second quarter worth $30,000. Strive Asset Management LLC purchased a new position in Blackstone in the third quarter worth $30,000. Finally, Palladiem LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $31,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,000 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 45,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. The trade was a 8.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2%

Shares of BX stock opened at $143.66 on Tuesday. The stock has a market capitalization of $107.83 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.56 and a beta of 1.55. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. 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 company’s fifty day simple moving average is $129.20 and its two-hundred day simple moving average is $122.50.

Blackstone (NYSE:BX) last released 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. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. Citizens Jmp reduced their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upgraded shares of Blackstone to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Piper Sandler increased their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, HSBC restated a “hold” rating and issued a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.95.

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.