Raymond James Financial Services Advisors Inc. Grows Stake in Blackstone Inc. (NYSE:BX)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 443,786 shares of the asset manager’s stock after acquiring an additional 6,930 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Blackstone were worth $58,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new stake in Blackstone in the second quarter worth $25,000. Halpern Financial Inc. raised its position in Blackstone by 327.1% during the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 193 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. DHJJ Financial Advisors Ltd. purchased a new stake in Blackstone during the 3rd quarter valued at $33,000. Finally, Family CFO Inc bought a new position in Blackstone during the third quarter valued at $33,000. 63.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blackstone 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 value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last three months. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $128.81 on Tuesday. The company has a market cap of $92.05 billion, a PE ratio of 70.39, a P/E/G ratio of 1.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day simple moving average of $124.93 and a two-hundred day simple moving average of $115.65. Blackstone Inc. has a fifty-two week low of $79.29 and a fifty-two week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities analysts expect that Blackstone Inc. will post 4.92 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.92%. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 2nd. Blackstone’s dividend payout ratio is presently 205.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BX shares. TD Cowen started coverage on shares of Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective on the stock. BMO Capital Markets lifted their target price on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Morgan Stanley upped 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research note on Wednesday, December 20th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.53.

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.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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