1,389 Shares in Blackstone Inc. $BX Purchased by Wealth Advisory Solutions LLC

Key Points

• Wealth Advisory Solutions LLC acquired 1,389 shares of Blackstone Inc., valued at approximately $208,000, as part of its new position in the company.
• Major shareholder Blackstone Holdings I. L.P. purchased 1,189,532 shares at an average price of $25.22 per share, increasing its ownership by nearly 40%.
• Blackstone recently announced a quarterly dividend increase to $1.03 per share, reflecting an annualized yield of 2.2% and a payout ratio of 110.75%.

Wealth Advisory Solutions LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,389 shares of the asset manager's stock, valued at approximately $208,000.

Other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Blackstone during the first quarter valued at about $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone during the first quarter valued at about $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the first quarter valued at about $28,000. Anderson Financial Strategies LLC acquired a new stake in shares of Blackstone during the first quarter valued at about $28,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Blackstone during the second quarter valued at about $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the business's stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the acquisition, the insider directly owned 4,178,771 shares of the company's stock, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,871,634 shares worth $135,328,376. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 1.0%

Shares of NYSE:BX opened at $185.77 on Tuesday. The company has a market capitalization of $136.93 billion, a PE ratio of 49.94, a P/E/G ratio of 1.52 and a beta of 1.77. The company has a current ratio of 0.74, a quick 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. The firm has a 50 day simple moving average of $173.16 and a 200-day simple moving average of $151.89.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. 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. Blackstone's dividend payout ratio is presently 110.75%.

Analyst Ratings Changes

Several research analysts have recently commented on BX shares. JMP Securities raised their price objective on shares of Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Evercore ISI raised their price objective on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Barclays lifted their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $172.38.

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.

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