Nisa Investment Advisors LLC Has $19.11 Million Stock Position in Blackstone Inc. $BX

Nisa Investment Advisors LLC grew its position in Blackstone Inc. (NYSE:BX) by 10.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,771 shares of the asset manager’s stock after buying an additional 12,390 shares during the period. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $19,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. 1248 Management LLC acquired a new position in shares of Blackstone in the 1st quarter valued at $25,000. von Borstel & Associates Inc. bought a new stake in Blackstone in the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone in the 1st quarter worth $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone in the 1st quarter worth $28,000. Finally, Family CFO Inc acquired a new position in Blackstone in the 2nd quarter worth $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider directly owned 737,248 shares of the company’s stock, valued at $128,015,742.72. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BX. Barclays reduced their target price on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $166.00 price target on shares of Blackstone and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. BNP Paribas Exane cut their price target on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Citigroup cut their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.26.

Blackstone Stock Down 0.3%

Shares of BX stock opened at $154.55 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. The firm’s 50-day moving average is $170.20 and its 200-day moving average is $156.15. The stock has a market cap of $113.92 billion, a price-to-earnings ratio of 44.16, a PEG ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be issued a $1.29 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.3%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is currently 117.71%.

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.