Drucker Wealth 3.0 LLC Takes Position in Blackstone Inc. $BX

Drucker Wealth 3.0 LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,520 shares of the asset manager’s stock, valued at approximately $241,000.

A number of other hedge funds have also added to or reduced their stakes in BX. Brighton Jones LLC boosted its stake in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. GAMMA Investing LLC boosted its stake in Blackstone by 5.2% during the 1st quarter. GAMMA Investing LLC now owns 9,462 shares of the asset manager’s stock valued at $1,323,000 after purchasing an additional 470 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Blackstone by 2.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 24,593 shares of the asset manager’s stock valued at $3,438,000 after purchasing an additional 607 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Blackstone during the 1st quarter valued at about $201,000. Finally, Salem Investment Counselors Inc. boosted its stake in Blackstone by 2.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 5,129 shares of the asset manager’s stock valued at $717,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BX. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. 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. Piper Sandler dropped their target price on shares of Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Bank of America dropped their target price on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction 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. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 4.2%

NYSE:BX opened at $153.88 on Friday. 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 stock has a market capitalization of $113.42 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77. The firm’s 50 day moving average is $172.53 and its 200 day moving average is $154.22. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is presently 110.75%.

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.