Accretive Wealth Partners LLC Grows Stock Position in Blackstone Inc. $BX

Accretive Wealth Partners LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,428 shares of the asset manager’s stock after buying an additional 176 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Blackstone were worth $2,158,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Arcus Capital Partners LLC raised its stake in shares of Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares during the last quarter. Mattern Wealth Management LLC raised its stake in shares of Blackstone by 2.8% in the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the last quarter. Sage Rhino Capital LLC raised its stake in shares of Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after purchasing an additional 63 shares during the last quarter. Jeppson Wealth Management LLC raised its stake in shares of Blackstone by 1.0% in the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after purchasing an additional 66 shares during the last quarter. Finally, McAdam LLC raised its stake in shares of Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after purchasing an additional 75 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Jefferies Financial Group dropped their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. TD Cowen dropped their target price on Blackstone from $215.00 to $208.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Blackstone from $160.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and a consensus target price of $180.26.

Blackstone Stock Down 1.0%

Blackstone stock opened at $156.37 on Monday. The stock has a market capitalization of $115.26 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The business has a 50 day simple moving average of $171.66 and a 200-day simple moving average of $154.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business 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%. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders 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 dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio is presently 110.75%.

Insider Transactions at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction dated Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last three months, 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. 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.