RMR Wealth Builders Has $3.47 Million Holdings in Blackstone Inc. $BX

RMR Wealth Builders boosted its holdings in Blackstone Inc. (NYSE:BX) by 16.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,225 shares of the asset manager’s stock after acquiring an additional 3,202 shares during the period. RMR Wealth Builders’ holdings in Blackstone were worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new stake in Blackstone in the 2nd quarter valued at $30,000. Apella Capital LLC raised its stake in Blackstone by 41.6% in the 2nd quarter. Apella Capital LLC now owns 11,778 shares of the asset manager’s stock valued at $1,802,000 after acquiring an additional 3,462 shares during the period. Boltwood Capital Management raised its stake in Blackstone by 5.2% in the 2nd quarter. Boltwood Capital Management now owns 8,929 shares of the asset manager’s stock valued at $1,336,000 after acquiring an additional 440 shares during the period. Gradient Investments LLC increased its position in Blackstone by 3.0% during the 2nd quarter. Gradient Investments LLC now owns 78,891 shares of the asset manager’s stock worth $11,800,000 after buying an additional 2,310 shares during the period. Finally, Parallel Advisors LLC increased its position in Blackstone by 0.3% during the 2nd quarter. Parallel Advisors LLC now owns 31,297 shares of the asset manager’s stock worth $4,681,000 after buying an additional 85 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, CAO David Payne sold 9,400 shares of Blackstone stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $169.97, for a total transaction of $1,597,718.00. Following the sale, the chief accounting officer directly owned 54,488 shares of the company’s stock, valued at approximately $9,261,325.36. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat acquired 222 shares of the stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $170.29 per share, with a total value of $37,804.38. Following the completion of the transaction, the director directly owned 38,753 shares of the company’s stock, valued at $6,599,248.37. The trade was a 0.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,189,806 shares of company stock valued at $30,046,627 and sold 16,871,634 shares valued at $135,328,376. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $181.44 on Monday. The stock’s 50-day simple moving average is $170.04 and its 200 day simple moving average is $150.49. The firm has a market capitalization of $133.74 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the firm posted $0.98 earnings per share. Blackstone’s revenue was up 32.7% compared to the same quarter last year. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. Blackstone’s payout ratio is 110.75%.

Analyst Ratings Changes

BX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Barclays raised their price target on Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group restated a “neutral” rating on shares of Blackstone in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their price target on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.38.

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.