Fiduciary Family Office LLC Takes Position in Blackstone Inc. (NYSE:BX)

Key Points

• Fiduciary Family Office LLC acquired 3,810 shares of Blackstone Inc., valued at approximately $533,000, indicating significant investment interest.
• Blackstone has reported a robust 32.7% year-over-year revenue increase with earnings per share of $1.21, surpassing analysts' expectations.
• The company recently increased its quarterly dividend to $1.03 per share, reflecting a healthy annual yield of 2.4%, despite a payout ratio of 110.75%.

Fiduciary Family Office LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,810 shares of the asset manager's stock, valued at approximately $533,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Blackstone in the 1st quarter valued at $28,000. Putney Financial Group LLC acquired a new position in Blackstone during the 4th quarter worth about $34,000. Bernard Wealth Management Corp. acquired a new position in Blackstone during the 4th quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in Blackstone during the 1st quarter worth about $35,000. Finally, Garde Capital Inc. acquired a new position in Blackstone during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

NYSE:BX traded up $1.23 during mid-day trading on Monday, reaching $170.14. 2,609,144 shares of the stock were exchanged, compared to its average volume of 3,825,000. The company has a 50 day simple moving average of $156.23 and a 200-day simple moving average of $149.92. The stock has a market capitalization of $124.14 billion, a P/E ratio of 45.74, a P/E/G ratio of 1.38 and a beta of 1.71. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released 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. 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 firm's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, August 4th will be paid a $1.03 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date is Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. Blackstone's dividend payout ratio (DPR) is 110.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BX shares. Citigroup reissued a "market perform" rating on shares of Blackstone in a research note on Saturday, July 19th. Cowen reissued a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $170.00 to $192.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley cut their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Barclays upped their price target on Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $170.12.

Insider Buying and Selling at Blackstone

In other Blackstone news, CAO David Payne sold 9,400 shares of Blackstone stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $169.97, for a total value of $1,597,718.00. Following the transaction, the chief accounting officer directly owned 54,488 shares in the company, valued at approximately $9,261,325.36. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the stock in a transaction on Friday, July 18th. The stock was bought at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the purchase, the insider directly owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. The trade was a 39.79% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

About Blackstone

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.