Concurrent Investment Advisors LLC Boosts Stock Position in Blackstone Inc. $BX

Concurrent Investment Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,219 shares of the asset manager’s stock after acquiring an additional 8,293 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Blackstone were worth $15,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bell Investment Advisors Inc purchased a new position in Blackstone during the 2nd quarter worth $30,000. Addison Advisors LLC acquired a new position in shares of Blackstone during the second quarter worth about $30,000. Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at about $30,000. Palladiem LLC purchased a new stake in Blackstone in the 4th quarter valued at approximately $31,000. Finally, West Branch Capital LLC raised its stake in shares of Blackstone by 26,600.0% during the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 45,000 shares of the firm’s 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 sale, the insider owned 516,017 shares in the company, valued at $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the purchase, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,611,822 shares of company stock valued at $42,189,294 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Citizens Jmp decreased their price target on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Rothschild & Co Redburn lowered their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Finally, Barclays boosted their price target on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.43.

Blackstone Price Performance

BX stock opened at $136.07 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50 day moving average price is $132.74 and its 200 day moving average price is $123.14. The firm has a market cap of $102.14 billion, a P/E ratio of 30.44, a PEG ratio of 1.55 and a beta of 1.56. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business’s revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts expect that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. Blackstone’s payout ratio is presently 115.44%.

Blackstone 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.