Blackstone Inc. $BX Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 23.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,158 shares of the asset manager’s stock after acquiring an additional 3,627 shares during the quarter. Modera Wealth Management LLC’s holdings in Blackstone were worth $2,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arcus Capital Partners LLC boosted its holdings in shares of Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after buying an additional 58 shares during the period. Mattern Wealth Management LLC boosted its stake in Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the period. GHP Investment Advisors Inc. raised its stake in Blackstone by 3.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares during the period. Sage Rhino Capital LLC raised its position in Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after buying an additional 63 shares during the period. Finally, WNY Asset Management LLC boosted its position in Blackstone by 1.7% during the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BX shares. Morgan Stanley increased their price target on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Jefferies Financial Group dropped their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler lowered their target price on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. HSBC reduced their price target on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Finally, Citigroup reduced their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.74.

Blackstone Trading Up 1.8%

Shares of Blackstone stock opened at $146.00 on Friday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The company has a market cap of $107.61 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 1.18 and a beta of 1.76. The company’s fifty day simple moving average is $165.79 and its 200-day simple moving average is $157.17.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion during the quarter. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. Blackstone’s payout ratio is presently 147.43%.

Insider Activity

In other news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 2,565,415 shares of company stock valued at $69,037,981 and have sold 16,875,234 shares valued at $136,847,628. 1.00% of the stock is currently owned by company insiders.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.