Blue Zone Wealth Advisors LLC Purchases 13,424 Shares of Blackstone Inc. $BX

Blue Zone Wealth Advisors LLC lifted its position in Blackstone Inc. (NYSE:BX) by 33.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,045 shares of the asset manager’s stock after buying an additional 13,424 shares during the quarter. Blackstone comprises 2.0% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Blue Zone Wealth Advisors LLC’s holdings in Blackstone were worth $8,084,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new stake in Blackstone in the 1st quarter worth approximately $28,000. Wealth Preservation Advisors LLC acquired a new stake in Blackstone in the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone in the 1st quarter worth approximately $28,000. Finally, Family CFO Inc acquired a new stake in Blackstone in the 2nd quarter worth approximately $28,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $153.88 on Friday. The business has a fifty day simple moving average of $172.53 and a 200 day simple moving average of $154.17. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $113.42 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.31 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business 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 represents a $4.12 dividend on an annualized basis and a yield of 2.7%. This is a positive change 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%.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Citigroup restated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. BMO Capital Markets initiated coverage on shares of Blackstone in a research report on Friday, October 3rd. They set an “outperform” rating and a $190.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. JMP Securities upped their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Friday, July 25th. Finally, Barclays cut their target price on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $179.00.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction 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 sale, the insider directly owned 453,836 shares in the company, valued at $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were 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 trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

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.