Atria Investments Inc Purchases 1,876 Shares of Blackstone Inc. $BX

by · The Cerbat Gem

Atria Investments Inc lifted its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,877 shares of the asset manager’s stock after purchasing an additional 1,876 shares during the period. Atria Investments Inc’s holdings in Blackstone were worth $11,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. DAVENPORT & Co LLC increased its holdings in Blackstone by 1.7% in the first quarter. DAVENPORT & Co LLC now owns 53,672 shares of the asset manager’s stock valued at $7,502,000 after purchasing an additional 888 shares during the period. Rossby Financial LCC bought a new stake in Blackstone in the first quarter valued at approximately $41,000. Keybank National Association OH boosted its holdings in Blackstone by 8.6% in the first quarter. Keybank National Association OH now owns 16,007 shares of the asset manager’s stock valued at $2,237,000 after acquiring an additional 1,263 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in Blackstone by 6.9% in the first quarter. Aaron Wealth Advisors LLC now owns 2,320 shares of the asset manager’s stock valued at $324,000 after acquiring an additional 150 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

BX opened at $148.42 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average price is $168.98 and its two-hundred day moving average price is $156.52. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a market cap of $109.40 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.18 and a beta of 1.77.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is currently 147.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BX. Bank of America reduced their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. BMO Capital Markets reduced their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen reduced their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Citigroup cut their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.74.

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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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