Rise Advisors LLC Buys 261 Shares of Blackstone Inc. (NYSE:BX)

Rise Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 17.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,731 shares of the asset manager’s stock after purchasing an additional 261 shares during the period. Rise Advisors LLC’s holdings in Blackstone were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ruedi Wealth Management Inc. purchased a new position in shares of Blackstone during the fourth quarter valued at $28,000. AXS Investments LLC purchased a new position in shares of Blackstone during the fourth quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Blackstone during the third quarter valued at $42,000. Ridgewood Investments LLC purchased a new position in shares of Blackstone during the first quarter valued at $47,000. Finally, Tanglewood Legacy Advisors LLC bought a new stake in Blackstone during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 63.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BX shares. Morgan Stanley reissued an “overweight” rating and issued a $125.00 price target on shares of Blackstone in a report on Tuesday, September 5th. Piper Sandler lifted their target price on Blackstone from $107.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. StockNews.com began coverage on Blackstone in a report on Thursday, August 17th. They set a “hold” rating for the company. TheStreet upgraded Blackstone from a “c+” rating to a “b” rating in a research report on Thursday, July 20th. Finally, The Goldman Sachs Group lifted their price target on Blackstone from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.97.

Blackstone Trading Up 1.0 %

Shares of BX stock traded up $1.08 on Friday, hitting $113.79. The stock had a trading volume of 117,475,896 shares, compared to its average volume of 5,169,057. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $80.76 billion, a P/E ratio of 68.95, a P/E/G ratio of 2.05 and a beta of 1.49. Blackstone Inc. has a 1 year low of $71.72 and a 1 year high of $115.19. The company’s 50 day moving average price is $103.35 and its 200-day moving average price is $92.52.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Blackstone had a return on equity of 16.99% and a net margin of 17.92%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business posted $1.49 EPS. The business’s revenue for the quarter was up 347.3% on a year-over-year basis. Analysts anticipate that Blackstone Inc. will post 4.16 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.78%. Blackstone’s dividend payout ratio (DPR) is presently 191.52%.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 85,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $93.08, for a total transaction of $7,911,800.00. Following the completion of the sale, the director now directly owns 1,060,448 shares of the company’s stock, valued at approximately $98,706,499.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William G. Parrett sold 3,874 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $112.47, for a total value of $435,708.78. Following the completion of the transaction, the director now directly owns 30,941 shares of the company’s stock, valued at approximately $3,479,934.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $93.08, for a total value of $7,911,800.00. Following the completion of the transaction, the director now directly owns 1,060,448 shares of the company’s stock, valued at $98,706,499.84. The disclosure for this sale can be found here. Insiders sold a total of 17,402,086 shares of company stock valued at $198,963,771 in the last three months. 1.00% of the stock is currently owned by company insiders.

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.