1,380 Shares in Blackstone Inc. $BX Bought by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,380 shares of the asset manager’s stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in BX. Kingstone Capital Partners Texas LLC grew its position in Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after buying an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its position in Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after buying an additional 1,102,949 shares during the period. Nuveen LLC acquired a new stake in Blackstone during the first quarter valued at $151,524,000. Amundi grew its position in Blackstone by 69.3% during the first quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock valued at $323,000,000 after buying an additional 990,947 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after buying an additional 742,829 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BX. Barclays dropped their price target on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Jefferies Financial Group dropped their target price on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Finally, Bank of America dropped their target price on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.33.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

BX opened at $163.92 on Thursday. The firm has a market capitalization of $120.83 billion, a PE ratio of 44.07, a PEG ratio of 1.34 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The firm’s 50-day moving average price is $172.11 and its 200 day moving average price is $154.56. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s payout ratio is presently 110.75%.

Blackstone 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.