GM Advisory Group LLC Purchases 12,022 Shares of Blackstone Inc. $BX

GM Advisory Group LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 85.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,079 shares of the asset manager’s stock after purchasing an additional 12,022 shares during the quarter. GM Advisory Group LLC’s holdings in Blackstone were worth $3,901,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares during the period. Meeder Asset Management Inc. raised its holdings in Blackstone by 118.1% during the 1st quarter. Meeder Asset Management Inc. now owns 410 shares of the asset manager’s stock worth $57,000 after purchasing an additional 222 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Blackstone in the 1st quarter valued at about $914,000. First Foundation Advisors raised its stake in shares of Blackstone by 11.5% during the first quarter. First Foundation Advisors now owns 2,423 shares of the asset manager’s stock worth $339,000 after buying an additional 249 shares during the last quarter. Finally, Vestcor Inc boosted its stake in Blackstone by 99.1% in the first quarter. Vestcor Inc now owns 26,370 shares of the asset manager’s stock valued at $3,686,000 after acquiring an additional 13,126 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BX shares. BNP Paribas Exane reduced their price target on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Jefferies Financial Group reduced their price objective on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. TD Cowen reduced their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Barclays dropped their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, October 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a report on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Insiders Place Their Bets

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the purchase, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 2,950,751 shares of company stock valued at $79,050,138 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Up 1.1%

NYSE BX opened at $145.04 on Thursday. The stock has a market capitalization of $107.10 billion, a price-to-earnings ratio of 41.44, a PEG 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 $194.23. The stock’s 50 day moving average price is $156.80 and its two-hundred day moving average price is $158.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75.

Blackstone (NYSE:BX) last announced 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 net margin of 20.56% and a return on equity of 22.30%. As a group, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) 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.