Wiser Advisor Group LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 8,312.5% in the first quarter, Holdings Channel reports. The firm owned 8,749 shares of the asset manager’s stock after acquiring an additional 8,645 shares during the period. Wiser Advisor Group LLC’s holdings in Blackstone were worth $1,006,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. Sivia Capital Partners LLC grew its holdings in Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares in the last quarter. United Bank lifted its holdings in Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after buying an additional 1,729 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Blackstone during the second quarter valued at about $1,124,000. Finally, Sei Investments Co. lifted its stake in shares of Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after acquiring an additional 8,655 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Blackstone Stock Up 0.2%
Shares of NYSE:BX opened at $115.66 on Monday. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company’s fifty day moving average is $120.62 and its two-hundred day moving average is $129.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $85.92 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59.
Blackstone Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is presently 118.67%.
Insider Buying and Selling
In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 10,252,345 shares of company stock valued at $209,789,893 in the last three months. 1.00% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. TD Cowen lowered their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. The Goldman Sachs Group decreased their price target on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Citizens Jmp cut their price target on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Finally, Morgan Stanley reduced their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.86.
Blackstone Company Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
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