Accurate Wealth Management LLC Purchases 520 Shares of Blackstone Inc. $BX

Accurate Wealth Management LLC grew its position in Blackstone Inc. (NYSE:BX) by 8.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,042 shares of the asset manager’s stock after buying an additional 520 shares during the period. Accurate Wealth Management LLC’s holdings in Blackstone were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BX. Brighton Jones LLC boosted its position 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 worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Blackstone during the fourth quarter worth about $765,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Blackstone during the fourth quarter valued at about $48,384,000. Wood Tarver Financial Group LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $46,000. Finally, Old North State Trust LLC grew its position in Blackstone by 4.8% during the 4th quarter. Old North State Trust LLC now owns 8,124 shares of the asset manager’s stock worth $1,401,000 after purchasing an additional 373 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ruth Porat acquired 222 shares of Blackstone stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $170.29 per share, for a total transaction of $37,804.38. Following the completion of the transaction, the director owned 38,753 shares of the company’s stock, valued at approximately $6,599,248.37. The trade was a 0.58% increase in their position. The acquisition 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 company’s stock in a transaction dated Wednesday, August 13th. The stock was 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 bought 3,727,877 shares of company stock valued at $95,046,625 and sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Piper Sandler boosted their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. JMP Securities raised their price objective on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. Evercore ISI increased their price target on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Citigroup restated a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.38.

Blackstone Trading Down 3.6%

Blackstone stock opened at $178.21 on Thursday. 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 firm has a market cap of $131.36 billion, a PE ratio of 47.91, a P/E/G ratio of 1.50 and a beta of 1.77. The stock’s 50 day simple moving average is $173.90 and its two-hundred day simple moving average is $152.30. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the business posted $0.98 EPS. The business’s revenue was up 32.7% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

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.