Private Advisor Group LLC Has $28.10 Million Holdings in Blackstone Inc. $BX

Key Points

• Private Advisor Group LLC boosted its Blackstone stake by 3.7% in the first quarter, bringing its holdings to 244,376 shares valued at about $28.1 million.
• Blackstone reported Q1 earnings of $1.36 per share, topping estimates, while revenue rose 10% year over year to $3.43 billion. Analysts currently rate the stock Moderate Buy with a consensus price target of $149.36.
• The company paid a $1.16 quarterly dividend and announced an annualized yield of 3.8%, though the payout ratio is high at 118.67%.

Private Advisor Group LLC increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 244,376 shares of the asset manager's stock after acquiring an additional 8,821 shares during the period. Private Advisor Group LLC's holdings in Blackstone were worth $28,101,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after acquiring an additional 2,035 shares during the period. Sivia Capital Partners LLC grew its position in shares of Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager's stock valued at $310,000 after purchasing an additional 177 shares during the last quarter. United Bank increased its stake in shares of Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager's stock worth $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC bought a new stake in Blackstone during the 2nd quarter valued at approximately $1,124,000. Finally, Sei Investments Co. increased its position in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager's stock worth $67,703,000 after buying an additional 8,655 shares during the period. Institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares of the company's stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company's stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 10,252,345 shares of company stock worth $209,789,893 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 0.0%

Shares of Blackstone stock opened at $122.73 on Friday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The firm has a market capitalization of $91.17 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The company's fifty day moving average price is $119.67 and its two-hundred day moving average price is $128.02.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $1.11 EPS. The firm's revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, May 4th. Blackstone's dividend payout ratio is currently 118.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BX. HSBC reduced their price objective on Blackstone from $164.00 to $131.00 and set a "hold" rating for the company in a research report on Friday, April 10th. Argus reduced their price target on shares of Blackstone from $163.00 to $146.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. Citizens Jmp dropped their price objective on shares of Blackstone from $195.00 to $190.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings cut shares of Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Finally, Dbs Bank raised Blackstone to a "moderate buy" rating in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.36.

Blackstone Company Profile

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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