Ullmann Wealth Partners Group LLC Purchases Shares of 4,586 Blackstone Inc. (NYSE:BX)

Ullmann Wealth Partners Group LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the third quarter, HoldingsChannel.com reports. The firm purchased 4,586 shares of the asset manager’s stock, valued at approximately $702,000.

Other hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new position in shares of Blackstone during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter valued at $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BX shares. Barclays boosted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $136.18.

Blackstone Stock Performance

NYSE BX traded up $0.83 on Tuesday, hitting $156.32. The stock had a trading volume of 2,614,920 shares, compared to its average volume of 3,410,287. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $111.71 billion, a price-to-earnings ratio of 55.17, a P/E/G ratio of 1.24 and a beta of 1.51. The company’s 50-day moving average is $144.24 and its two-hundred day moving average is $132.31.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. On average, analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone 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.