BankPlus Wealth Management LLC Purchases 100 Shares of Blackstone Inc. $BX

BankPlus Wealth Management LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,319 shares of the asset manager’s stock after purchasing an additional 100 shares during the quarter. BankPlus Wealth Management LLC’s holdings in Blackstone were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC boosted its position in shares of Blackstone by 1.0% during the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after purchasing an additional 66 shares in the last quarter. McAdam LLC boosted its position in shares of Blackstone by 4.4% during the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after acquiring an additional 76 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in Blackstone by 3.7% in the second quarter. Peddock Capital Advisors LLC now owns 2,111 shares of the asset manager’s stock worth $316,000 after acquiring an additional 76 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in Blackstone by 3.4% in the second quarter. Park National Corp OH now owns 2,334 shares of the asset manager’s stock worth $349,000 after acquiring an additional 77 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 1.2%

Shares of NYSE:BX opened at $175.86 on Friday. The company has a market cap of $129.63 billion, a P/E ratio of 47.28, a PEG 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 1 year low of $115.66 and a 1 year high of $200.96. The stock’s fifty day moving average price is $173.96 and its 200-day moving average price is $152.55.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

Insiders Place Their Bets

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the sale, the insider owned 737,248 shares in the company, valued at $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction dated 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 sale, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,871,634 shares valued at $135,328,376. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BX shares. JMP Securities boosted their target price on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their target price on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $172.38.

Blackstone Company 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.