WealthPlan Investment Management LLC Increases Holdings in Blackstone Inc. (NYSE:BX)

WealthPlan Investment Management LLC lifted its holdings in Blackstone Inc. (NYSE:BXFree Report) by 914.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,697 shares of the asset manager’s stock after acquiring an additional 19,558 shares during the period. WealthPlan Investment Management LLC’s holdings in Blackstone were worth $2,325,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BX. Fairfield Bush & CO. lifted its holdings in shares of Blackstone by 56.1% in the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 1,530 shares during the last quarter. United Bank raised its position in Blackstone by 34.2% in the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 2,153 shares during the period. Yousif Capital Management LLC raised its position in Blackstone by 10.4% in the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock worth $1,392,000 after purchasing an additional 1,034 shares during the period. Insight Advisors LLC PA raised its position in Blackstone by 1.6% in the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock worth $2,341,000 after purchasing an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position in Blackstone by 12.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock worth $4,878,000 after purchasing an additional 4,366 shares during the period. Institutional investors own 63.35% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $127.68 on Friday. The company has a market cap of $90.72 billion, a price-to-earnings ratio of 69.77, a price-to-earnings-growth ratio of 3.12 and a beta of 1.52. Blackstone Inc. has a twelve month low of $76.19 and a twelve month high of $133.53. The company has a quick ratio of 0.84, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $123.13 and a two-hundred day moving average of $110.40.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same period last year, the firm earned $1.07 earnings per share. As a group, analysts predict that Blackstone Inc. will post 4.95 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Monday, February 5th will be paid a dividend of $0.94 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO David Payne sold 5,500 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $128.21, for a total transaction of $705,155.00. Following the completion of the transaction, the chief accounting officer now owns 47,781 shares of the company’s stock, valued at $6,126,002.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,352 shares of company stock worth $10,668,224. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BX. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Morgan Stanley raised their target price on shares of Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group lowered shares of Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $117.81.

View Our Latest Stock Report on Blackstone

About Blackstone

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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