Bulltick Wealth Management LLC Buys 848 Shares of Blackstone Inc. (NYSE:BX)

Bulltick Wealth Management LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,238 shares of the asset manager’s stock after purchasing an additional 848 shares during the period. Blackstone comprises 1.6% of Bulltick Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Bulltick Wealth Management LLC’s holdings in Blackstone were worth $6,591,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Aveo Capital Partners LLC purchased a new position in Blackstone in the 4th quarter worth about $217,000. CreativeOne Wealth LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $238,000. Assetmark Inc. increased its holdings in Blackstone by 11.6% during the 4th quarter. Assetmark Inc. now owns 25,510 shares of the asset manager’s stock worth $3,340,000 after purchasing an additional 2,648 shares during the period. US Bancorp DE lifted its holdings in shares of Blackstone by 2.8% in the 4th quarter. US Bancorp DE now owns 160,073 shares of the asset manager’s stock worth $20,957,000 after buying an additional 4,401 shares during the period. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Blackstone during the fourth quarter valued at $220,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.9 %

NYSE:BX opened at $158.15 on Friday. The firm has a market capitalization of $113.02 billion, a P/E ratio of 55.88, a PEG ratio of 1.23 and a beta of 1.51. The company’s fifty day moving average price is $139.58 and its 200-day moving average price is $129.33. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.07%. Blackstone’s dividend payout ratio is presently 115.90%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. TD Cowen boosted their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Finally, Barclays lifted their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $130.78.

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.