8,680 Shares of Blackstone Inc. $BX Bought by Gen Wealth Partners Inc

Gen Wealth Partners Inc bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the third quarter, HoldingsChannel reports. The institutional investor bought 8,680 shares of the asset manager’s stock, valued at approximately $973,000.

Several other institutional investors also recently modified their holdings of BX. BlackRock Inc. bought a new stake in shares of Blackstone during the second quarter worth approximately $6,112,162,000. Bank of America Corp DE bought a new stake in shares of Blackstone during the 2nd quarter valued at $1,364,373,000. Legal & General Group Plc acquired a new position in shares of Blackstone in the 2nd quarter valued at $605,267,000. Bank of New York Mellon Corp lifted its stake in shares of Blackstone by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,520,908 shares of the asset manager’s stock valued at $519,859,000 after purchasing an additional 333,798 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Blackstone by 1.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager’s stock worth $512,250,000 after purchasing an additional 52,755 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Baratta sold 100,000 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the transaction, the director owned 771,599 shares of the company’s stock, valued at $95,523,956.20. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,992,776 shares of company stock worth $25,507,509 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

Shares of BX stock opened at $122.58 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.68. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $165.14. The firm has a fifty day moving average of $119.59 and a 200-day moving average of $123.20. The firm has a market capitalization of $92.07 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.52.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, topping the consensus estimate of $1.26 by $0.06. Blackstone had a return on equity of 23.16% and a net margin of 22.11%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Monday, November 2nd were paid a $1.12 dividend. The ex-dividend date of this dividend was Monday, November 2nd. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Blackstone’s payout ratio is presently 99.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BX shares. Argus lifted their price objective on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Royal Bank Of Canada raised their target price on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wells Fargo & Company initiated coverage on Blackstone in a research report on Friday, October 2nd. They set an “equal weight” rating and a $122.00 target price for the company. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Thursday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.57.

Blackstone Company Profile

Blackstone Inc. is a global alternative asset manager that invests on behalf of institutional and individual investors. Its businesses span private equity, real estate, credit and insurance, infrastructure, and multi-asset investing, with strategies that include private funds and investment products for a range of clients. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, the firm initially focused on mergers and acquisitions advisory work before expanding into investment management.