Blackstone Inc. $BX Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its position in Blackstone Inc. (NYSE:BX) by 35.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,341 shares of the asset manager’s stock after buying an additional 22,461 shares during the period. Foundations Investment Advisors LLC’s holdings in Blackstone were worth $12,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Capital Management LLC lifted its position in shares of Blackstone by 5.0% during the 2nd quarter. Advisors Capital Management LLC now owns 799,549 shares of the asset manager’s stock valued at $119,597,000 after buying an additional 37,906 shares in the last quarter. L & S Advisors Inc raised its position in shares of Blackstone by 155.0% during the 2nd quarter. L & S Advisors Inc now owns 13,325 shares of the asset manager’s stock worth $1,993,000 after purchasing an additional 8,099 shares during the last quarter. Burling Wealth Partners LLC boosted its holdings in Blackstone by 0.4% in the 2nd quarter. Burling Wealth Partners LLC now owns 97,196 shares of the asset manager’s stock worth $14,539,000 after buying an additional 366 shares during the last quarter. Intrua Financial LLC increased its stake in Blackstone by 60.8% during the 2nd quarter. Intrua Financial LLC now owns 7,834 shares of the asset manager’s stock worth $1,172,000 after buying an additional 2,963 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Blackstone in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. Jefferies Financial Group decreased their price objective on Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. Evercore ISI decreased their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Morgan Stanley lifted their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Piper Sandler reduced their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, TD Cowen cut their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Stock Up 1.4%

NYSE:BX opened at $141.46 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $104.46 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The stock’s fifty day moving average is $163.12 and its two-hundred day moving average is $157.60.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

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

Insider Activity

In related news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the business’s stock in a transaction 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 acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat acquired 324 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,565,543 shares of company stock worth $69,050,139 over the last three months. Company insiders own 1.00% of the company’s stock.

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.