Allied Private Wealth LLC acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,158 shares of the asset manager's stock, valued at approximately $1,798,000. Blackstone makes up approximately 1.1% of Allied Private Wealth LLC's investment portfolio, making the stock its 14th biggest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BX. Strive Asset Management LLC acquired a new position in Blackstone in the third quarter valued at about $30,000. Family CFO Inc bought a new position in shares of Blackstone in the fourth quarter worth about $28,000. Ares Financial Consulting LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the 4th quarter valued at $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone during the third quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Blackstone Price Performance
Shares of NYSE:BX opened at $136.86 on Monday. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The firm has a market capitalization of $101.67 billion, a PE ratio of 30.62, a P/E/G ratio of 1.52 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $123.47 and a two-hundred day moving average price of $122.76.
Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. Equities analysts forecast that Blackstone Inc. will post 6 EPS for the current year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a dividend of $1.29 per share. This is a boost from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.8%. Blackstone's payout ratio is currently 115.44%.
Insiders Place Their Bets
In other Blackstone news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider owned 9,111,800 shares of the company's stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 573,614 shares of the company's stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average price of $26.15 per share, with a total value of $15,000,006.10. Following the transaction, the insider owned 8,455,758 shares in the company, valued at approximately $221,118,071.70. The trade was a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 10,825,520 shares of company stock worth $224,735,908. 1.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
BX has been the topic of a number of recent research reports. Rothschild & Co Redburn cut their price target on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, June 9th. Royal Bank Of Canada raised their target price on Blackstone from $161.00 to $169.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Argus boosted their price target on Blackstone from $146.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citizens Jmp lowered their price objective on shares of Blackstone from $190.00 to $165.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Finally, Oppenheimer upped their price target on Blackstone from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $147.95.
Check Out Our Latest Report on Blackstone
Blackstone Profile
(
Free Report)
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.
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