Blackstone Inc. (NYSE:BX) Shares Purchased by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,367 shares of the asset manager’s stock after buying an additional 262 shares during the period. Worth Financial Advisory Group LLC’s holdings in Blackstone were worth $664,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moseley Investment Management Inc. increased its stake in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares in the last quarter. BSW Wealth Partners lifted its holdings in Blackstone by 1.9% in the 1st quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock valued at $599,000 after purchasing an additional 84 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Blackstone by 1.2% during the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after buying an additional 87 shares in the last quarter. Finally, Fragasso Financial Advisors Inc raised its position in shares of Blackstone by 2.7% in the second quarter. Fragasso Financial Advisors Inc now owns 3,344 shares of the asset manager’s stock valued at $414,000 after buying an additional 89 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 0.5 %

Shares of BX stock traded down $0.71 on Tuesday, hitting $141.25. The stock had a trading volume of 3,868,929 shares, compared to its average volume of 3,508,603. The company’s 50 day moving average price is $131.38 and its 200-day moving average price is $126.92. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $145.16. The firm has a market capitalization of $100.94 billion, a P/E ratio of 49.91, a P/E/G ratio of 1.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.32%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday. They issued a “neutral” rating and a $134.00 price objective for the company. Bank of America increased their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Barclays upped their target price on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $128.94.

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.