Foundations Investment Advisors LLC Buys 21,913 Shares of Blackstone Inc. $BX

Foundations Investment Advisors LLC grew its stake in Blackstone Inc. (NYSE:BX) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,996 shares of the asset manager’s stock after purchasing an additional 21,913 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Blackstone were worth $18,034,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BX. Brighton Jones LLC raised its position in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. Sivia Capital Partners LLC raised its position in shares of Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the period. United Bank grew its stake in shares of Blackstone by 14.7% in the second 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 acquired a new position in shares of Blackstone in the second quarter valued at about $1,124,000. Finally, Sei Investments Co. grew its stake in shares of Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after acquiring an additional 8,655 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 0.1%

BX opened at $118.01 on Thursday. The company’s 50 day moving average is $118.52 and its 200-day moving average is $133.01. Blackstone Inc. has a 1-year low of $101.73 and a 1-year 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 market cap of $87.67 billion, a P/E ratio of 30.18, a PEG ratio of 1.28 and a beta of 1.63.

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

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insiders Place Their Bets

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the acquisition, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 12,355,303 shares of company stock worth $264,789,896 and have sold 9,128,660 shares worth $46,457,920. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BX. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Blackstone from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. BMO Capital Markets upped their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. HSBC decreased their price target on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a research note on Friday, April 10th. TD Cowen decreased their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Piper Sandler increased their price objective on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $151.05.

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.