Fiduciary Alliance LLC Buys Shares of 1,563 Blackstone Inc. $BX

Key Points

• Fiduciary Alliance LLC acquired 1,563 shares of Blackstone Inc., worth approximately $234,000, during the second quarter.
• Major shareholders like GAMMA Investing LLC and Vanguard Group Inc. have significantly increased their stakes in Blackstone, indicating strong institutional interest.
• Blackstone declared a quarterly dividend of $1.03, reflecting a growth from the previous $0.93 per share, with a current annualized yield of 2.2%.

Fiduciary Alliance LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,563 shares of the asset manager's stock, valued at approximately $234,000.

Other large investors have also recently bought and sold shares of the company. Triumph Capital Management lifted its stake in shares of Blackstone by 5.5% in the 2nd quarter. Triumph Capital Management now owns 9,785 shares of the asset manager's stock valued at $1,464,000 after purchasing an additional 514 shares during the period. Emprise Bank bought a new position in shares of Blackstone during the 2nd quarter worth approximately $206,000. Byrne Asset Management LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $1,232,000. Bay Rivers Group lifted its position in shares of Blackstone by 4.1% during the 2nd quarter. Bay Rivers Group now owns 18,631 shares of the asset manager's stock valued at $2,787,000 after acquiring an additional 735 shares during the period. Finally, Riversedge Advisors LLC grew its holdings in Blackstone by 21.0% in the second quarter. Riversedge Advisors LLC now owns 1,741 shares of the asset manager's stock worth $260,000 after purchasing an additional 302 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BX shares. JMP Securities increased their price objective on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research report on Friday, July 25th. Evercore ISI increased their price target on Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. The Goldman Sachs Group restated a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $172.38.

Blackstone Stock Down 1.0%

BX stock traded down $1.85 during trading on Monday, reaching $185.77. The stock had a trading volume of 3,037,138 shares, compared to its average volume of 3,352,768. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company's 50 day moving average is $173.16 and its two-hundred day moving average is $151.89. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $136.93 billion, a price-to-earnings ratio of 49.94, a P/E/G ratio of 1.52 and a beta of 1.77.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. Blackstone's payout ratio is presently 110.75%.

Insider Buying and Selling at Blackstone

In related news, insider Vikrant Sawhney sold 50,850 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares of the company's stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is currently owned by corporate insiders.

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.