Blackstone Inc. $BX Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in Blackstone Inc. (NYSE:BX) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,024 shares of the asset manager’s stock after purchasing an additional 762 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Blackstone were worth $1,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $25,000. Family CFO Inc acquired a new stake in shares of Blackstone in the second quarter valued at approximately $28,000. Wealth Preservation Advisors LLC purchased a new position in Blackstone in the first quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone in the first quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new position in Blackstone in the second quarter worth approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.0%

NYSE:BX opened at $156.37 on Friday. The firm has a market cap of $115.26 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 1.28 and a beta of 1.77. The stock has a fifty day moving average price of $171.66 and a 200 day moving average price of $154.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. 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 released its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a $1.03 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, August 4th. Blackstone’s payout ratio is 110.75%.

Insider Buying and Selling

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares in the company, valued at $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction 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 sale, the director owned 695,757 shares in the company, valued at approximately $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. Over the last 90 days, insiders acquired 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen lowered their price objective on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. HSBC increased their price objective on Blackstone from $170.00 to $179.00 in a research report on Wednesday. JMP Securities raised their price target on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research report on Friday, July 25th. Piper Sandler lowered their price target on Blackstone from $181.00 to $173.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Blackstone from $160.00 to $177.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.26.

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.