Leo Wealth LLC Acquires 539 Shares of Blackstone Inc. $BX

by · The Markets Daily

Leo Wealth LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,115 shares of the asset manager’s stock after purchasing an additional 539 shares during the period. Leo Wealth LLC’s holdings in Blackstone were worth $765,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MSH Capital Advisors LLC grew its position in Blackstone by 37.6% during the 2nd quarter. MSH Capital Advisors LLC now owns 4,389 shares of the asset manager’s stock worth $657,000 after acquiring an additional 1,200 shares during the last quarter. US Bancorp DE grew its holdings in shares of Blackstone by 3.8% in the second quarter. US Bancorp DE now owns 156,119 shares of the asset manager’s stock worth $23,352,000 after purchasing an additional 5,651 shares during the last quarter. Baxter Bros Inc. increased its stake in shares of Blackstone by 21.3% in the second quarter. Baxter Bros Inc. now owns 18,138 shares of the asset manager’s stock worth $2,713,000 after buying an additional 3,190 shares during the period. Armstrong Fleming & Moore Inc purchased a new position in shares of Blackstone in the second quarter valued at about $419,000. Finally, Beaumont Asset Management L.L.C. increased its position in shares of Blackstone by 9.6% in the second quarter. Beaumont Asset Management L.L.C. now owns 7,336 shares of the asset manager’s stock valued at $1,097,000 after acquiring an additional 642 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of BX opened at $160.52 on Friday. The stock has a market cap of $118.32 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $172.86 and its two-hundred day simple moving average is $154.15.

Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.6%. Blackstone’s payout ratio is currently 110.75%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BX. Barclays reduced their price target on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a report on Wednesday. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. BMO Capital Markets started coverage on shares of Blackstone in a research report on Friday, October 3rd. They set an “outperform” rating and a $190.00 price objective on the stock. TD Cowen reduced their price objective on shares of Blackstone from $215.00 to $208.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Evercore ISI boosted their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

View Our Latest Research 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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