JFS Wealth Advisors LLC Has $820,000 Stake in Blackstone Inc. $BX

JFS Wealth Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,483 shares of the asset manager’s stock after purchasing an additional 78 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Blackstone were worth $820,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Blackstone during the first quarter worth approximately $25,000. Family CFO Inc bought a new stake in Blackstone during the second quarter worth approximately $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone in the 1st quarter worth approximately $28,000. Finally, Livelsberger Financial Advisory bought a new position in Blackstone in the 2nd quarter worth approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BX shares. Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Barclays dropped their price target on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday. TD Cowen dropped their price target on Blackstone from $215.00 to $208.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler dropped their price target on Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, BNP Paribas Exane boosted their price objective on Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Blackstone Stock Performance

BX opened at $153.88 on Friday. The stock’s 50 day simple moving average is $172.53 and its 200-day simple moving average is $154.22. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock has a market cap of $113.42 billion, a PE ratio of 41.37, a P/E/G ratio of 1.25 and a beta of 1.77. 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 issued its quarterly earnings data 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 during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. 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 dividend yield of 2.7%. Blackstone’s dividend payout ratio (DPR) is 110.75%.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the business’s stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the acquisition, the insider owned 4,178,771 shares of the company’s stock, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

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.