Accretive Wealth Partners LLC Purchases 176 Shares of Blackstone Inc. $BX

Accretive Wealth Partners LLC grew its position in Blackstone Inc. (NYSE:BX) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,428 shares of the asset manager’s stock after acquiring an additional 176 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Blackstone were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund increased its position in shares of Blackstone by 105.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of Blackstone during the 2nd quarter valued at approximately $273,000. Sandy Cove Advisors LLC increased its position in shares of Blackstone by 22.1% during the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after purchasing an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in Blackstone during the 2nd quarter valued at $423,000. Finally, Edmond DE Rothschild Holding S.A. grew its position in Blackstone by 14.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after acquiring an additional 1,863 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $156.37 on Monday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock has a market capitalization of $115.26 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 1.27 and a beta of 1.77. The stock has a fifty day simple moving average of $171.66 and a two-hundred day simple moving average of $154.98. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm 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%. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a dividend of $1.03 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $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 bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays cut their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Bank of America cut their price objective on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. The Goldman Sachs Group upped their price objective on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Evercore ISI upped their price objective on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.26.

About Blackstone

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.