Oak Hill Wealth Advisors LLC Purchases 310 Shares of Blackstone Inc. $BX

Oak Hill Wealth Advisors LLC increased its position in Blackstone Inc. (NYSE:BX) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,422 shares of the asset manager’s stock after acquiring an additional 310 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in Blackstone were worth $691,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Illinois Municipal Retirement Fund boosted its holdings in shares of Blackstone by 105.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Blackstone during the second quarter worth approximately $273,000. Sandy Cove Advisors LLC boosted its stake in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after purchasing an additional 2,182 shares in the last quarter. Narwhal Capital Management grew its holdings in Blackstone by 34.3% in the first quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager’s stock worth $9,032,000 after purchasing an additional 16,486 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Blackstone during the second quarter worth $423,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

BX stock opened at $168.40 on Friday. The firm has a 50-day moving average of $173.81 and a two-hundred day moving average of $153.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $124.12 billion, a PE ratio of 45.27, a P/E/G ratio of 1.35 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BX shares. Barclays lifted their price objective on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. JMP Securities increased their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a report on Friday, July 25th. BNP Paribas Exane raised their price objective on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $176.00.

Blackstone Company Profile

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.