Kingswood Wealth Advisors LLC Increases Stake in Blackstone Inc. (NYSE:BX)

Kingswood Wealth Advisors LLC raised its position in Blackstone Inc. (NYSE:BXFree Report) by 536.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,181 shares of the asset manager’s stock after purchasing an additional 11,110 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Blackstone were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Blackstone by 28.8% in the 4th quarter. Pacer Advisors Inc. now owns 57,613 shares of the asset manager’s stock valued at $7,543,000 after purchasing an additional 12,878 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Blackstone by 1.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 443,786 shares of the asset manager’s stock valued at $58,101,000 after buying an additional 6,930 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Blackstone in the 4th quarter valued at $144,000. Rheos Capital Works Inc. purchased a new position in shares of Blackstone in the 4th quarter valued at $14,663,000. Finally, Butensky & Cohen Financial Security Inc. purchased a new position in shares of Blackstone in the 4th quarter valued at $223,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BX. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Bank of America increased their price target on shares of Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. 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 note on Monday, January 22nd. Finally, 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 note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $119.53.

Read Our Latest Report on BX

Blackstone Stock Down 2.9 %

Shares of NYSE:BX opened at $127.86 on Monday. The stock has a market capitalization of $91.37 billion, a price-to-earnings ratio of 69.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a 1-year low of $79.29 and a 1-year high of $133.56. The company’s fifty day moving average is $124.93 and its two-hundred day moving average is $115.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the company earned $1.07 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, February 2nd. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is 205.46%.

Blackstone Profile

(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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