Blackstone Inc. $BX Holdings Raised by Triad Wealth Partners LLC

Triad Wealth Partners LLC increased its stake in Blackstone Inc. (NYSE:BX) by 7.3% during the second quarter, HoldingsChannel reports. The firm owned 2,883 shares of the asset manager’s stock after acquiring an additional 197 shares during the period. Triad Wealth Partners LLC’s holdings in Blackstone were worth $431,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. 1248 Management LLC purchased a new position in Blackstone during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone in the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC purchased a new stake in shares of Blackstone in the first quarter worth approximately $28,000. Livelsberger Financial Advisory purchased a new position in Blackstone during the second quarter valued at approximately $30,000. Finally, von Borstel & Associates Inc. purchased a new stake in Blackstone in the 1st quarter worth approximately $28,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Blackstone stock opened at $168.40 on Friday. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. 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 stock has a fifty day moving average price of $173.81 and a two-hundred day moving average price of $153.77. The firm has a market capitalization of $124.12 billion, a P/E ratio of 45.27, a P/E/G ratio of 1.35 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. 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 is 110.75%.

Analyst Ratings Changes

BX has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Blackstone in a report on Friday. They set an “outperform” rating and a $190.00 price objective for the company. Evercore ISI lifted their price target on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Barclays raised their price objective on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Saturday, September 27th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the transaction, the insider owned 4,178,771 shares of the company’s stock, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Corporate 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.