GM Advisory Group LLC Has $3.21 Million Stock Position in Blackstone Inc. $BX

GM Advisory Group LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 27.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,812 shares of the asset manager’s stock after selling 7,267 shares during the quarter. GM Advisory Group LLC’s holdings in Blackstone were worth $3,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. REAP Financial Group LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone in the third quarter valued at about $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone during the third quarter worth approximately $30,000. Traub Capital Management LLC acquired a new position in shares of Blackstone in the 2nd quarter worth approximately $27,000. Finally, Kelleher Financial Advisors acquired a new stake in Blackstone during the 3rd quarter valued at $34,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of Blackstone stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the acquisition, the insider owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. This represents a 7.37% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 4.6%

Shares of Blackstone stock opened at $112.00 on Wednesday. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The business has a fifty day simple moving average of $132.74 and a 200 day simple moving average of $149.41. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The stock has a market cap of $83.12 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 0.85 and a beta of 1.79.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company’s revenue was up 41.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.69 earnings per share. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 5.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio (DPR) is 153.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BX. Jefferies Financial Group decreased their target price on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. UBS Group decreased their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Bank of America reduced their target price on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Royal Bank Of Canada assumed coverage on shares of Blackstone in a report on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price target for the company. Finally, BMO Capital Markets decreased their price objective on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.86.

Blackstone Company 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.