Blackstone Inc. $BX Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its stake in Blackstone Inc. (NYSE:BX) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,341 shares of the asset manager’s stock after acquiring an additional 22,461 shares during the period. Foundations Investment Advisors LLC’s holdings in Blackstone were worth $12,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Capital Management LLC boosted its holdings in shares of Blackstone by 5.0% in the second quarter. Advisors Capital Management LLC now owns 799,549 shares of the asset manager’s stock valued at $119,597,000 after acquiring an additional 37,906 shares during the period. L & S Advisors Inc boosted its stake in Blackstone by 155.0% during the 2nd quarter. L & S Advisors Inc now owns 13,325 shares of the asset manager’s stock worth $1,993,000 after purchasing an additional 8,099 shares during the period. Burling Wealth Partners LLC increased its stake in Blackstone by 0.4% in the second quarter. Burling Wealth Partners LLC now owns 97,196 shares of the asset manager’s stock valued at $14,539,000 after purchasing an additional 366 shares during the period. Intrua Financial LLC grew its holdings in shares of Blackstone by 60.8% during the second quarter. Intrua Financial LLC now owns 7,834 shares of the asset manager’s stock worth $1,172,000 after buying an additional 2,963 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in Blackstone in the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.4%

NYSE:BX opened at $141.46 on Friday. The company has a market capitalization of $104.46 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock has a fifty day simple moving average of $163.12 and a 200-day simple moving average of $157.60. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was acquired at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ruth Porat purchased 324 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the acquisition, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. The trade was a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 2,565,543 shares of company stock valued at $69,050,139. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of several analyst reports. Barclays cut their price target on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. HSBC dropped their target price on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. JPMorgan Chase & Co. reduced their price target on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, Piper Sandler cut their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

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.