WealthPlan Investment Management LLC Buys 7,084 Shares of Blackstone Inc. $BX

Key Points

• WealthPlan Investment Management LLC increased its holdings in Blackstone Inc. by 24.8%, acquiring an additional 7,084 shares, bringing their total to 35,705 shares valued at approximately $5.34 million.
• Major shareholders have been active, with notable transactions including 16.68 million shares sold by Bx Buzz Ml-1 Gp LLC and a 51.09% increase in shares owned by Private Multi-Asset Blackstone after acquiring over 2.5 million shares.
• Blackstone recently declared a quarterly dividend of $1.03, up from $0.93, reflecting a dividend yield of 2.5% and a payout ratio of 110.75%.

WealthPlan Investment Management LLC raised its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 24.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,705 shares of the asset manager's stock after purchasing an additional 7,084 shares during the period. WealthPlan Investment Management LLC's holdings in Blackstone were worth $5,341,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. 1248 Management LLC bought a new stake in Blackstone in the 1st quarter valued at about $25,000. Family CFO Inc bought a new stake in Blackstone in the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone in the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC bought a new stake in Blackstone in the 1st quarter valued at about $28,000. Finally, Livelsberger Financial Advisory bought a new stake in Blackstone in the 2nd quarter valued at about $30,000. Institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

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 shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company's stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $163.92 on Thursday. The company has a market cap of $120.83 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 1.34 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. The firm has a 50 day simple moving average of $172.11 and a 200 day simple moving average of $154.56. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $2.49 billion during the quarter. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.5%. Blackstone's dividend payout ratio is currently 110.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America cut their price target on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. BMO Capital Markets assumed coverage on shares of Blackstone in a report on Friday, October 3rd. They set an "outperform" rating and a $190.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $160.00 to $177.00 and gave the stock a "neutral" rating in a report on Tuesday. Jefferies Financial Group cut their price target on shares of Blackstone from $207.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group upped their price target on shares of Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of "Moderate Buy" and an average target price of $180.33.

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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