Purus Wealth Management LLC Acquires 472 Shares of Blackstone Inc. $BX

Purus Wealth Management LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,602 shares of the asset manager’s stock after purchasing an additional 472 shares during the quarter. Purus Wealth Management LLC’s holdings in Blackstone were worth $988,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC raised its position in Blackstone by 3.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after buying an additional 1,949 shares during the last quarter. Redmond Asset Management LLC raised its holdings in shares of Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after purchasing an additional 3,281 shares during the last quarter. Kera Capital Partners Inc. bought a new position in Blackstone in the second quarter valued at $273,000. Bourgeon Capital Management LLC bought a new stake in Blackstone during the 2nd quarter worth about $423,000. Finally, Sandy Cove Advisors LLC grew its holdings in shares of Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after acquiring an additional 2,182 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

BX opened at $138.60 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business has a fifty day simple moving average of $162.43 and a 200 day simple moving average of $157.99. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a market capitalization of $102.35 billion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76.

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 return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion during the quarter. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared 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 dividend yield of 3.7%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio is presently 147.43%.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent analyst reports. BNP Paribas Exane lowered 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. BMO Capital Markets cut their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Jefferies Financial Group reduced their price target on Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. Finally, Bank of America reduced their target price on Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Activity

In other news, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is currently owned by insiders.

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.