1,399 Shares in Blackstone Inc. $BX Acquired by Garrison Point Advisors LLC

Garrison Point Advisors LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,399 shares of the asset manager’s stock, valued at approximately $209,000.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC bought a new position in Blackstone during the 1st quarter worth about $25,000. Family CFO Inc bought a new position in shares of Blackstone during the second quarter valued at approximately $28,000. Wealth Preservation Advisors LLC purchased a new position in Blackstone during the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC purchased a new stake in Blackstone during the first quarter worth $28,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Blackstone in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 2,565,415 shares of company stock worth $69,037,981 and sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft set a $166.00 price target on shares of Blackstone and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Bank of America lowered their price objective on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.74.

Blackstone Trading Up 1.8%

NYSE BX opened at $146.00 on Friday. The stock has a market cap of $107.61 billion, a P/E ratio of 41.71, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a fifty day simple moving average of $165.79 and a two-hundred day simple moving average of $157.17.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

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.