Uniting Wealth Partners LLC Invests $1.42 Million in Blackstone Inc. $BX

Uniting Wealth Partners LLC bought a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, Holdings Channel reports. The firm bought 12,056 shares of the asset manager’s stock, valued at approximately $1,419,000.

Several other institutional investors have also recently bought and sold shares of BX. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after buying an additional 177 shares in the last quarter. United Bank increased its position in Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Blackstone in the second quarter worth about $1,124,000. Finally, Sei Investments Co. grew its stake in shares of Blackstone by 1.9% during the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after purchasing an additional 8,655 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, CAO David Payne sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the sale, the chief accounting officer owned 64,448 shares of the company’s stock, valued at approximately $9,359,783.04. This represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the transaction, the insider directly owned 516,017 shares in the company, valued at approximately $75,911,260.87. This represents a 8.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.0%

NYSE:BX opened at $143.94 on Monday. The stock’s fifty day simple moving average is $126.51 and its 200-day simple moving average is $122.51. The firm has a market capitalization of $108.04 billion, a P/E ratio of 32.20, a P/E/G ratio of 1.60 and a beta of 1.55. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities research analysts expect that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is 115.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BX. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Jefferies Financial Group boosted their target price on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein assumed coverage on Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley cut their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

About Blackstone

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.