Retireful LLC Purchases New Position in Blackstone Inc. $BX

Retireful LLC acquired a new stake in Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,159 shares of the asset manager’s stock, valued at approximately $711,000.

Several other institutional investors have also recently made changes to their positions in the company. Traub Capital Management LLC purchased a new position in shares of Blackstone during the second quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in Blackstone in the first quarter worth $25,000. Family CFO Inc purchased a new position in Blackstone in the 2nd quarter worth about $28,000. Anderson Financial Strategies LLC purchased a new position in shares of Blackstone during the first quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Blackstone in the second quarter valued at approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, Director James Breyer purchased 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the acquisition, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. The trade was a 25.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the purchase, the insider directly owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 797,148 shares of company stock valued at $24,050,153 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of several research reports. BNP Paribas Exane lowered their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Evercore ISI reduced their price objective on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. UBS Group reiterated a “neutral” rating on shares of Blackstone in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.95.

Blackstone Price Performance

NYSE BX opened at $155.34 on Monday. The stock’s fifty day moving average price is $149.04 and its 200 day moving average price is $159.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $114.71 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 1.32 and a beta of 1.76. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last issued 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 for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current 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 issued a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. Blackstone’s payout ratio is presently 147.43%.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.