Blackstone Inc. $BX Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,997 shares of the asset manager’s stock after acquiring an additional 6,996 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Blackstone were worth $7,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Resources Management Corp CT ADV raised its holdings in Blackstone by 10.1% in the first quarter. Resources Management Corp CT ADV now owns 39,411 shares of the asset manager’s stock valued at $4,532,000 after acquiring an additional 3,629 shares in the last quarter. Empowered Funds LLC increased its holdings in Blackstone by 60.6% in the first quarter. Empowered Funds LLC now owns 242,487 shares of the asset manager’s stock valued at $27,884,000 after buying an additional 91,504 shares during the last quarter. Evercore Wealth Management LLC lifted its holdings in Blackstone by 2.2% during the 1st quarter. Evercore Wealth Management LLC now owns 1,345,665 shares of the asset manager’s stock worth $154,738,000 after buying an additional 28,573 shares during the last quarter. Infrastructure Capital Advisors LLC lifted its stake in Blackstone by 23.6% during the first quarter. Infrastructure Capital Advisors LLC now owns 10,488 shares of the asset manager’s stock worth $1,206,000 after purchasing an additional 2,002 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Blackstone by 7.7% in the first quarter. Quantinno Capital Management LP now owns 242,340 shares of the asset manager’s stock worth $27,867,000 after purchasing an additional 17,350 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.0%

Shares of Blackstone stock opened at $133.97 on Wednesday. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a market capitalization of $99.53 billion, a P/E ratio of 29.97, a PEG ratio of 1.48 and a beta of 1.58. The business’s fifty day moving average price is $121.03 and its two-hundred day moving average price is $124.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion for 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 quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts forecast that Blackstone Inc. will post 5.97 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is currently 103.80%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the acquisition, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 10,825,959 shares of company stock valued at $224,789,900. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Sanford C. Bernstein started coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. Argus dropped their price target on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Jefferies Financial Group upped their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a report on Monday, June 8th. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.76.

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.