Register Financial Advisors LLC Grows Stake in Blackstone Inc. $BX

Key Points

• Register Financial Advisors LLC increased its stake in Blackstone Inc. by 7.3% in the second quarter, now holding 24,304 shares valued at approximately $3.64 million.
• Insider transactions revealed that Ruth Porat purchased 222 shares for $37,804, while John G. Finley sold 21,500 shares valued at approximately $3.69 million.
• Analysts have given Blackstone shares a consensus rating of "Moderate Buy" with an average target price of $172.38, reflecting positive sentiment towards the stock.

Register Financial Advisors LLC increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,304 shares of the asset manager's stock after purchasing an additional 1,661 shares during the period. Blackstone accounts for 1.6% of Register Financial Advisors LLC's holdings, making the stock its 11th biggest holding. Register Financial Advisors LLC's holdings in Blackstone were worth $3,635,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BX. 1248 Management LLC purchased a new stake in Blackstone in the 1st quarter worth $25,000. von Borstel & Associates Inc. bought a new stake in shares of Blackstone in the first quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone during the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC bought a new stake in Blackstone in the 1st quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Blackstone during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 222 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $170.29 per share, for a total transaction of $37,804.38. Following the acquisition, the director directly owned 38,753 shares in the company, valued at approximately $6,599,248.37. The trade was a 0.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company's stock, valued at $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 three months, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,871,634 shares valued at $135,328,376. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JMP Securities boosted their price target 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 upped their target price on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Dbs Bank raised Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Barclays raised their price objective on Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, Citigroup restated a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $172.38.

Blackstone Trading Down 1.2%

BX stock opened at $175.86 on Friday. The company has a market capitalization of $129.63 billion, a PE ratio of 47.28, a P/E/G ratio of 1.45 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The firm's 50-day moving average is $173.96 and its 200 day moving average is $152.55.

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

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, August 4th. Blackstone's 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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