Trivium Point Advisory LLC Makes New $433,000 Investment in Blackstone Inc. $BX

Trivium Point Advisory LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,680 shares of the asset manager’s stock, valued at approximately $433,000.

Several other institutional investors have also recently added to or reduced their stakes in BX. Redwood Financial Network Corp raised its holdings in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC grew its position in shares of Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after buying an additional 69 shares during the last quarter. Zacks Investment Management lifted its holdings in Blackstone by 2.1% in the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock worth $590,000 after acquiring an additional 71 shares during the last quarter. Brogan Financial Inc. boosted its stake in Blackstone by 2.5% in the third quarter. Brogan Financial Inc. now owns 2,904 shares of the asset manager’s stock valued at $496,000 after acquiring an additional 72 shares during the period. Finally, SlateStone Wealth LLC raised its position in shares of Blackstone by 1.9% during the 4th quarter. SlateStone Wealth LLC now owns 3,997 shares of the asset manager’s stock worth $616,000 after purchasing an additional 75 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the acquisition, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Payne sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the sale, the chief accounting officer owned 64,448 shares in the company, valued at $9,359,783.04. This represents a 12.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BX shares. HSBC restated a “hold” rating and set a $135.00 price objective on shares of Blackstone in a research note on Monday, July 20th. Royal Bank Of Canada upped their price target on shares of Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Jefferies Financial Group lifted their price objective on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein initiated coverage on shares of Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating for the company. Finally, Rothschild & Co Redburn cut their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $147.95.

Blackstone Stock Performance

Shares of NYSE BX opened at $143.94 on Monday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average price of $126.51 and a two-hundred day moving average price of $122.51. The firm has a market cap of $108.04 billion, a P/E ratio of 32.20, a PEG ratio of 1.60 and a beta of 1.55.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Research analysts forecast that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is presently 115.44%.

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.