Blackstone Inc. $BX Shares Purchased by Montag A & Associates Inc.

Montag A & Associates Inc. boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 501.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,654 shares of the asset manager’s stock after buying an additional 15,550 shares during the period. Montag A & Associates Inc.’s holdings in Blackstone were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the first quarter worth $28,000. Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the 1st quarter valued at $28,000. Family CFO Inc purchased a new position in Blackstone in the 2nd quarter worth $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in Blackstone during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. BNP Paribas Exane reduced their target price on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Piper Sandler lowered their price target on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a research note on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.74.

Insider Activity

In other Blackstone news, Director James Breyer purchased 13,900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares in the company, valued at approximately $9,912,817.16. This represents a 25.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 2,565,141 shares of company stock valued at $68,991,351 and sold 185,350 shares valued at $32,368,954. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $144.93 on Wednesday. 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 stock has a market capitalization of $106.83 billion, a PE ratio of 41.41, a P/E/G ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a fifty day moving average of $164.76 and a two-hundred day moving average of $157.76.

Blackstone (NYSE:BX) last released its earnings results 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 net margin of 20.56% and a return on equity of 22.30%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Blackstone 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.