Blackstone Inc. $BX Shares Bought by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC lifted its position in Blackstone Inc. (NYSE:BX) by 18.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,251 shares of the asset manager’s stock after acquiring an additional 3,583 shares during the period. Joel Isaacson & Co. LLC’s holdings in Blackstone were worth $3,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BX. KLP Kapitalforvaltning AS boosted its stake in Blackstone by 6.2% in the second quarter. KLP Kapitalforvaltning AS now owns 260,000 shares of the asset manager’s stock valued at $38,891,000 after acquiring an additional 15,100 shares during the period. RMG Wealth Management LLC acquired a new stake in Blackstone in the second quarter worth about $40,000. Meitav Investment House Ltd. increased its stake in shares of Blackstone by 91.6% during the second quarter. Meitav Investment House Ltd. now owns 242,591 shares of the asset manager’s stock valued at $36,297,000 after acquiring an additional 116,000 shares during the period. Trueblood Wealth Management LLC lifted its holdings in shares of Blackstone by 5.5% in the second quarter. Trueblood Wealth Management LLC now owns 4,204 shares of the asset manager’s stock valued at $629,000 after buying an additional 219 shares during the period. Finally, Seamount Financial Group Inc. grew its stake in shares of Blackstone by 7.0% in the 2nd quarter. Seamount Financial Group Inc. now owns 5,475 shares of the asset manager’s stock worth $819,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds 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 business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 21,500 shares of Blackstone 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 completion of the transaction, the insider owned 453,836 shares in the company, valued at $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Wells Fargo & Company increased their target price on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Citigroup reiterated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Saturday, September 27th. Finally, The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.53.

Blackstone Price Performance

NYSE BX opened at $166.73 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $122.90 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a 50 day moving average price of $173.61 and a two-hundred day moving average price of $153.96.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is currently 110.75%.

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.