Blackstone Inc. (NYSE:BX) Shares Bought by MGB Wealth Management LLC

MGB Wealth Management LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,625 shares of the asset manager’s stock after purchasing an additional 125 shares during the quarter. MGB Wealth Management LLC’s holdings in Blackstone were worth $608,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Schroder Investment Management Group increased its stake in shares of Blackstone by 17.3% during the third quarter. Schroder Investment Management Group now owns 86,971 shares of the asset manager’s stock worth $9,318,000 after acquiring an additional 12,852 shares during the period. Toroso Investments LLC increased its stake in shares of Blackstone by 26.8% during the third quarter. Toroso Investments LLC now owns 9,811 shares of the asset manager’s stock worth $1,051,000 after acquiring an additional 2,072 shares during the period. Penserra Capital Management LLC increased its stake in shares of Blackstone by 9,847.5% during the third quarter. Penserra Capital Management LLC now owns 3,979 shares of the asset manager’s stock worth $425,000 after acquiring an additional 3,939 shares during the period. Harbour Investments Inc. boosted its holdings in Blackstone by 6.0% during the third quarter. Harbour Investments Inc. now owns 5,662 shares of the asset manager’s stock worth $607,000 after buying an additional 318 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Blackstone by 32.5% during the third quarter. Diversified Trust Co now owns 10,830 shares of the asset manager’s stock worth $1,160,000 after buying an additional 2,658 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on BX shares. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Barclays boosted their price objective on shares of Blackstone from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen reduced their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.00.

Blackstone Trading Up 1.6 %

BX stock traded up $2.05 on Friday, hitting $128.66. 852,412 shares of the company were exchanged, compared to its average volume of 3,412,015. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The business’s fifty day moving average is $122.74 and its two-hundred day moving average is $124.26. The stock has a market capitalization of $91.95 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.50.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, research analysts forecast that Blackstone Inc. will post 4.7 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s payout ratio is currently 117.31%.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat bought 219 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

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.