SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co Takes Position in Blackstone Inc. $BX

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,300 shares of the asset manager’s stock, valued at approximately $194,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Empirical Finance LLC grew its position in Blackstone by 4.0% in the second quarter. Empirical Finance LLC now owns 5,180 shares of the asset manager’s stock worth $775,000 after acquiring an additional 200 shares during the period. Nicholas Wealth LLC. grew its holdings in shares of Blackstone by 31.4% during the 2nd quarter. Nicholas Wealth LLC. now owns 8,026 shares of the asset manager’s stock worth $1,201,000 after purchasing an additional 1,917 shares during the period. ARS Investment Partners LLC raised its holdings in Blackstone by 99.4% in the 2nd quarter. ARS Investment Partners LLC now owns 197,002 shares of the asset manager’s stock valued at $29,468,000 after buying an additional 98,229 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Blackstone by 4.8% during the second quarter. TD Waterhouse Canada Inc. now owns 204,357 shares of the asset manager’s stock worth $31,203,000 after buying an additional 9,297 shares during the period. Finally, FineMark National Bank & Trust increased its position in shares of Blackstone by 14.5% during the second quarter. FineMark National Bank & Trust now owns 71,747 shares of the asset manager’s stock valued at $10,732,000 after acquiring an additional 9,108 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ruth Porat bought 324 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. The trade was a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,565,543 shares of company stock worth $69,050,139 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 1.5%

NYSE:BX opened at $138.64 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock has a market cap of $102.38 billion, a P/E ratio of 39.61, a P/E/G ratio of 1.18 and a beta of 1.76. The stock has a 50-day simple moving average of $160.90 and a 200-day simple moving average of $157.84.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, 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, November 10th. Shareholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.7%. Blackstone’s dividend payout ratio is 147.43%.

Analyst Ratings Changes

BX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Blackstone from $166.00 to $164.00 and set a “buy” rating for the company in a report on Friday, November 14th. Piper Sandler dropped their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Jefferies Financial Group lowered their target price on Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.00.

Blackstone Company Profile

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.