LVW Advisors LLC Acquires 209 Shares of Blackstone Inc. $BX

LVW Advisors LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,785 shares of the asset manager’s stock after buying an additional 209 shares during the period. LVW Advisors LLC’s holdings in Blackstone were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Jeppson Wealth Management LLC boosted its position in shares of Blackstone by 1.0% during the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after purchasing an additional 66 shares in the last quarter. McAdam LLC boosted its stake in Blackstone by 4.4% in the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after purchasing an additional 75 shares during the period. Angeles Wealth Management LLC boosted its stake in Blackstone by 0.6% in the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after purchasing an additional 76 shares during the period. Peddock Capital Advisors LLC boosted its stake in Blackstone by 3.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 2,111 shares of the asset manager’s stock worth $316,000 after purchasing an additional 76 shares during the period. Finally, Park National Corp OH boosted its stake in Blackstone by 3.4% in the 2nd quarter. Park National Corp OH now owns 2,334 shares of the asset manager’s stock worth $349,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. JMP Securities boosted their price target on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research report on Friday, July 25th. Evercore ISI boosted their price target on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $172.38.

Blackstone Stock Down 0.1%

Shares of BX opened at $175.40 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $129.29 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm’s 50-day simple moving average is $174.09 and its 200 day simple moving average is $152.90.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.3%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is 110.75%.

Insider Buying and Selling at Blackstone

In related news, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company’s stock.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.