Investors Asset Management of Georgia Inc. GA ADV Buys 5,821 Shares of Blackstone Inc. $BX

Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Blackstone Inc. (NYSE:BX) by 37.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,569 shares of the asset manager’s stock after buying an additional 5,821 shares during the quarter. Blackstone accounts for approximately 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 22nd largest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $2,480,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redwood Financial Network Corp boosted its holdings in Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC grew its position in shares of Blackstone by 0.9% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after purchasing an additional 69 shares in the last quarter. Parcion Private Wealth LLC lifted its holdings in Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 70 shares in the last quarter. Trivium Point Advisory LLC grew its holdings in Blackstone by 2.6% during the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management raised its position in shares of Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after buying an additional 71 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. BMO Capital Markets increased their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Sanford C. Bernstein started coverage on Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. TD Cowen dropped their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, The Goldman Sachs Group reduced their price objective on Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.36.

Blackstone Stock Down 0.0%

Shares of NYSE:BX opened at $122.73 on Friday. The company has a market cap of $91.17 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.33 and a beta of 1.58. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $119.67 and a 200 day moving average price of $128.02.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. As a group, equities research analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 10,252,345 shares of company stock worth $209,789,893 over the last three months. 1.00% of the stock is currently owned by company insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.