Investors Asset Management of Georgia Inc. GA ADV Has $1.75 Million Stock Position in Blackstone Inc. $BX

Investors Asset Management of Georgia Inc. GA ADV raised its stake in Blackstone Inc. (NYSE:BX) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,696 shares of the asset manager’s stock after purchasing an additional 773 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $1,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Kingstone Capital Partners Texas LLC lifted its position in Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after purchasing an additional 70,118,948 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 742,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Blackstone by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after buying an additional 182,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Blackstone by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after buying an additional 117,724 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Evercore ISI lifted their target price on shares of Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Barclays increased their price target on Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Bank of America cut their price objective on Blackstone from $200.00 to $199.00 in a research report on Friday. Finally, The Goldman Sachs Group raised their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus target price of $175.53.

Blackstone Stock Up 1.1%

Blackstone stock opened at $168.40 on Monday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $124.12 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 1.37 and a beta of 1.77. The company’s 50 day simple moving average is $173.81 and its 200 day simple moving average is $153.83.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion during 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 firm’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a $1.03 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is presently 110.75%.

Insider Activity

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on 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 owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider 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. In the last ninety days, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

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.