Integral Investment Advisors Inc. Grows Position in Blackstone Inc. $BX

Integral Investment Advisors Inc. lifted its stake in Blackstone Inc. (NYSE:BX) by 61.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,997 shares of the asset manager’s stock after buying an additional 1,145 shares during the quarter. Integral Investment Advisors Inc.’s holdings in Blackstone were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. lifted its holdings in Blackstone by 22.6% during the second quarter. Howard Capital Management Inc. now owns 4,918 shares of the asset manager’s stock valued at $736,000 after purchasing an additional 907 shares in the last quarter. First National Trust Co lifted its stake in shares of Blackstone by 6.1% during the 2nd quarter. First National Trust Co now owns 7,754 shares of the asset manager’s stock valued at $1,160,000 after buying an additional 444 shares in the last quarter. Purkiss Capital Advisors LLC boosted its holdings in Blackstone by 6.7% in the 2nd quarter. Purkiss Capital Advisors LLC now owns 2,887 shares of the asset manager’s stock worth $432,000 after buying an additional 181 shares during the period. Taylor Financial Group Inc. raised its holdings in Blackstone by 0.8% during the second quarter. Taylor Financial Group Inc. now owns 15,240 shares of the asset manager’s stock valued at $2,280,000 after acquiring an additional 120 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Blackstone by 17.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 48,615 shares of the asset manager’s stock worth $7,272,000 after acquiring an additional 7,360 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Citigroup dropped their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. TD Cowen decreased their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday. Barclays cut their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, BMO Capital Markets initiated coverage on Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and an average price target of $180.26.

Insider Buying and Selling

In other Blackstone news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction on 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 can be found here. Over the last three months, insiders bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.6%

BX opened at $153.70 on Tuesday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $169.89 and a 200 day moving average of $156.26. The firm has a market cap of $113.29 billion, a P/E ratio of 43.91, a P/E/G ratio of 1.24 and a beta of 1.77.

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

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 147.43%.

Blackstone 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.