Joel Isaacson & Co. LLC Acquires 705 Shares of Blackstone Inc. (NYSE:BX)

Joel Isaacson & Co. LLC raised its position in shares of Blackstone Inc. (NYSE:BXGet Rating) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,075 shares of the asset manager’s stock after buying an additional 705 shares during the period. Joel Isaacson & Co. LLC’s holdings in Blackstone were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Palumbo Wealth Management LLC increased its holdings in shares of Blackstone by 1.0% in the fourth quarter. Palumbo Wealth Management LLC now owns 8,132 shares of the asset manager’s stock valued at $1,052,000 after purchasing an additional 83 shares in the last quarter. Israel Discount Bank of New York increased its holdings in shares of Blackstone by 1.7% in the first quarter. Israel Discount Bank of New York now owns 5,537 shares of the asset manager’s stock valued at $703,000 after purchasing an additional 90 shares in the last quarter. Bordeaux Wealth Advisors LLC increased its holdings in shares of Blackstone by 6.2% in the first quarter. Bordeaux Wealth Advisors LLC now owns 1,681 shares of the asset manager’s stock valued at $214,000 after purchasing an additional 98 shares in the last quarter. Legacy Private Trust Co. increased its holdings in shares of Blackstone by 4.5% in the first quarter. Legacy Private Trust Co. now owns 2,330 shares of the asset manager’s stock valued at $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Culbertson A N & Co Inc grew its holdings in Blackstone by 1.2% during the 1st quarter. Culbertson A N & Co Inc now owns 8,140 shares of the asset manager’s stock worth $1,033,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

Blackstone Stock Down 3.2 %

BX traded down $2.75 during trading on Friday, hitting $82.65. The company had a trading volume of 211,285 shares, compared to its average volume of 3,186,851. The company has a market capitalization of $57.99 billion, a PE ratio of 15.10, a PEG ratio of 1.69 and a beta of 1.45. Blackstone Inc. has a one year low of $84.11 and a one year high of $149.78. The firm’s 50-day moving average price is $98.89 and its 200 day moving average price is $105.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.47.

Blackstone (NYSE:BXGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The asset manager reported $1.49 EPS for the quarter, beating the consensus estimate of $1.47 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Blackstone had a net margin of 22.48% and a return on equity of 20.80%. The firm’s revenue was up 96.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.16 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Monday, August 1st were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $5.08 annualized dividend and a yield of 6.15%. Blackstone’s dividend payout ratio is currently 92.70%.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 71,223 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the sale, the director now directly owns 1,141,965 shares of the company’s stock, valued at approximately $107,287,611.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, Director Joseph Baratta sold 71,223 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the sale, the director now directly owns 1,141,965 shares of the company’s stock, valued at approximately $107,287,611.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holdings L.P. Blackstone III sold 7,200 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $32.68, for a total transaction of $235,296.00. Following the sale, the insider now directly owns 862,800 shares in the company, valued at $28,196,304. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,423 shares of company stock valued at $9,660,717. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BX. StockNews.com raised shares of Blackstone from a “sell” rating to a “hold” rating in a report on Thursday. Barclays began coverage on shares of Blackstone in a report on Wednesday, August 31st. They set an “overweight” rating and a $120.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Blackstone to $102.00 in a report on Friday, July 22nd. Morgan Stanley lowered their target price on shares of Blackstone from $154.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Piper Sandler lowered their target price on shares of Blackstone from $154.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.33.

Blackstone Profile

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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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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