6,078 Shares in Blackstone Inc. $BX Bought by Fund Advisors of America Inc FL

Fund Advisors of America Inc FL purchased a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,078 shares of the asset manager’s stock, valued at approximately $715,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Keebeck Wealth Management acquired a new position in Blackstone during the second quarter worth approximately $307,000. Keating Financial Advisory Services Inc. bought a new position in shares of Blackstone during the 2nd quarter worth approximately $199,000. Alaska Wealth Advisors LLC bought a new stake in Blackstone in the 2nd quarter valued at $235,000. Beckerman Institutional LLC acquired a new position in shares of Blackstone in the second quarter valued at $222,000. Finally, OneAscent Financial Services LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth about $2,349,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BX. Oppenheimer increased their price target on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Sanford C. Bernstein started coverage on Blackstone in a research note on Monday, June 8th. They set an “outperform” rating on the stock. BNP Paribas Exane reduced their price target on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods upgraded Blackstone to a “hold” rating in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

Blackstone Trading Up 1.6%

Shares of NYSE:BX opened at $143.56 on Friday. The company has a market capitalization of $107.76 billion, a P/E ratio of 32.12, a P/E/G ratio of 1.57 and a beta of 1.56. 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’s 50 day simple moving average is $128.82 and its 200 day simple moving average is $122.57. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share 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 firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue was up 35.9% compared to the same quarter last year. On average, research analysts anticipate that Blackstone Inc. will post 5.99 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Insider Transactions at Blackstone

In related news, CAO David Payne sold 9,500 shares of Blackstone stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the transaction, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. This trade represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the business’s stock in a transaction on 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 purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by corporate insiders.

Blackstone 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.