RMR Wealth Builders Has $3.47 Million Position in Blackstone Inc. $BX

Key Points

• RMR Wealth Builders increased its position in Blackstone Inc. by 16.0% during the second quarter, holding shares now worth $3.47 million.
• Several institutional investors, including GAMMA Investing LLC and Vanguard Group, significantly boosted their stakes in Blackstone, reflecting a strong interest in the stock.
• Blackstone recently increased its quarterly dividend to $1.03 per share, up from $0.93, resulting in an annualized yield of 2.3%.

RMR Wealth Builders boosted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,225 shares of the asset manager's stock after buying an additional 3,202 shares during the period. RMR Wealth Builders' holdings in Blackstone were worth $3,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. GAMMA Investing LLC boosted its stake in shares of Blackstone by 14,608.6% in the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock valued at $184,873,000 after purchasing an additional 1,313,606 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Blackstone by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock valued at $9,504,702,000 after purchasing an additional 1,102,949 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at $151,524,000. Amundi boosted its stake in shares of Blackstone by 69.3% in the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager's stock valued at $323,000,000 after purchasing an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock valued at $739,761,000 after purchasing an additional 742,829 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BX. Barclays upped their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. JMP Securities upped 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. Piper Sandler upped their price target on shares of Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wells Fargo & Company upped their price target on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Dbs Bank raised Blackstone to a "moderate buy" rating in a report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $172.38.

Blackstone Price Performance

Shares of BX opened at $181.44 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a 50 day simple moving average of $170.04 and a 200 day simple moving average of $150.49. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The firm has a market capitalization of $133.74 billion, a PE ratio of 48.77, a P/E/G ratio of 1.47 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the firm earned $0.98 EPS. Blackstone's quarterly revenue was up 32.7% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. 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 yield of 2.3%. Blackstone's payout ratio is currently 110.75%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares of the company's stock, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,189,806 shares of company stock worth $30,046,627 and have sold 16,871,634 shares worth $135,328,376. Insiders own 1.00% of the company's stock.

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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