Bulltick Wealth Management LLC Boosts Holdings in Blackstone Inc. $BX

Bulltick Wealth Management LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,569 shares of the asset manager’s stock after buying an additional 482 shares during the period. Bulltick Wealth Management LLC’s holdings in Blackstone were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BX. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. grew its holdings in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after buying an additional 1,102,949 shares in the last quarter. Geode Capital Management LLC increased its stake in Blackstone by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock worth $2,462,706,000 after acquiring an additional 227,416 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after acquiring an additional 742,829 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Blackstone by 4.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after purchasing an additional 182,526 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BNP Paribas Exane reduced their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. BMO Capital Markets dropped their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Morgan Stanley increased their price objective on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. cut their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone Price Performance

Shares of BX stock opened at $141.46 on Monday. The company’s 50-day simple moving average is $163.12 and its two-hundred day simple moving average is $157.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a market capitalization of $104.46 billion, a P/E ratio of 40.42, a P/E/G ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion for the quarter. As a group, equities 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 represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction dated Monday, September 22nd. The stock was purchased at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Porat acquired 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the acquisition, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is owned by corporate insiders.

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.