Perryman Financial Advisory Inc. AD Invests $19.87 Million in Blackstone Inc. $BX

Perryman Financial Advisory Inc. AD acquired a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 128,883 shares of the asset manager’s stock, valued at approximately $19,866,000. Blackstone makes up about 2.9% of Perryman Financial Advisory Inc. AD’s holdings, making the stock its 7th biggest holding.

Other large investors also recently bought and sold shares of the company. Mariner LLC raised its holdings in shares of Blackstone by 2.1% in the fourth quarter. Mariner LLC now owns 466,173 shares of the asset manager’s stock worth $71,856,000 after buying an additional 9,369 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Blackstone by 26.5% in the fourth quarter. Nicolet Advisory Services LLC now owns 15,985 shares of the asset manager’s stock worth $2,503,000 after buying an additional 3,346 shares during the last quarter. FJ Capital Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth $317,000. Focus Partners Wealth raised its holdings in shares of Blackstone by 476.1% in the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock worth $204,193,000 after buying an additional 1,094,307 shares during the last quarter. Finally, Garrison Point Advisors LLC raised its holdings in shares of Blackstone by 12.7% in the fourth quarter. Garrison Point Advisors LLC now owns 1,577 shares of the asset manager’s stock worth $243,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $122.63 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a fifty day moving average price of $119.98 and a 200 day moving average price of $130.96. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock has a market cap of $91.10 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.33 and a beta of 1.59.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the business posted $1.11 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a research note on Monday, June 8th. They set a “buy” rating for the company. Argus decreased their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Sanford C. Bernstein assumed coverage on shares of Blackstone in a research note on Monday, June 8th. They set an “outperform” rating for the company. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Barclays decreased their price objective on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.86.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 12,355,303 shares of company stock worth $264,789,896. Insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.