BCU Wealth Advisors LLC Takes Position in Blackstone Inc. $BX

Key Points

• BCU Wealth Advisors LLC acquired 3,900 shares of Blackstone Inc., valued at approximately $583,000, in the 2nd quarter.
• Blackstone's quarterly dividend increased from $0.93 to $1.03 per share, reflecting a 2.3% yield based on a payout ratio of 110.75%.
• Recent ratings updates from analysts include a price target increase from $157.00 to $181.00 by Piper Sandler and a "moderate buy" upgrade from Dbs Bank.

BCU Wealth Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,900 shares of the asset manager's stock, valued at approximately $583,000.

Several other large investors have also recently modified their holdings of the stock. First United Bank & Trust raised its position in shares of Blackstone by 4.5% in the 2nd quarter. First United Bank & Trust now owns 12,715 shares of the asset manager's stock worth $1,902,000 after purchasing an additional 550 shares during the last quarter. Union Bancaire Privee UBP SA raised its position in Blackstone by 17.7% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 8,244 shares of the asset manager's stock worth $1,233,000 after buying an additional 1,240 shares during the last quarter. Chicago Capital LLC raised its position in Blackstone by 5.6% in the 2nd quarter. Chicago Capital LLC now owns 33,457 shares of the asset manager's stock worth $5,005,000 after buying an additional 1,788 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its position in Blackstone by 178.5% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 337 shares of the asset manager's stock worth $50,000 after buying an additional 216 shares during the last quarter. Finally, Mattern Wealth Management LLC grew its stake in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager's stock valued at $331,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the firm's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director owned 695,757 shares of the company's stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 21,500 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BX shares. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Piper Sandler boosted their price target on Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Blackstone in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $170.00 to $192.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, BNP Paribas Exane upped their price target on Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone has an average rating of "Moderate Buy" and an average price target of $172.71.

Blackstone Price Performance

BX opened at $175.99 on Tuesday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The business's fifty day simple moving average is $174.28 and its 200-day simple moving average is $153.26. The company has a market capitalization of $129.72 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.42 and a beta of 1.77.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. Blackstone's dividend payout ratio is 110.75%.

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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