Glass Jacobson Investment Advisors llc Has $446,000 Stake in Blackstone Inc. $BX

Glass Jacobson Investment Advisors llc decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,981 shares of the asset manager’s stock after selling 277 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Blackstone were worth $446,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BX. Illinois Municipal Retirement Fund grew its holdings in Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock worth $1,874,000 after purchasing an additional 6,878 shares during the period. Kera Capital Partners Inc. bought a new position in Blackstone in the second quarter worth approximately $273,000. Sandy Cove Advisors LLC lifted its holdings in shares of Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after purchasing an additional 2,182 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Blackstone during the second quarter worth $423,000. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Blackstone by 14.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after buying an additional 1,863 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a report on Friday. Morgan Stanley lifted their target price on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday. HSBC increased their target price on shares of Blackstone from $170.00 to $179.00 in a research report on Wednesday, October 15th. Evercore ISI reduced their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, TD Cowen cut their price target on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.84.

Blackstone Stock Down 0.3%

BX stock opened at $154.55 on Friday. The company’s 50 day moving average is $170.20 and its 200 day moving average is $155.77. The stock has a market cap of $113.92 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s payout ratio is 117.71%.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

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.