OneDigital Investment Advisors LLC Buys New Holdings in Blackstone Inc. $BX

OneDigital Investment Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 15,256 shares of the asset manager’s stock, valued at approximately $1,795,000.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in Blackstone by 34.6% in the 4th 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 lifted its stake 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 buying an additional 177 shares in the last quarter. United Bank grew its holdings in shares of Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after buying an additional 1,729 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Blackstone in the 2nd quarter worth about $1,124,000. Finally, Sei Investments Co. boosted its stake in Blackstone by 1.9% during the 2nd 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. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. The Goldman Sachs Group increased their price target on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Citizens Jmp cut their price objective on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Evercore reiterated an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Finally, Piper Sandler boosted their price target on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.95.

Blackstone Trading Up 0.0%

Shares of Blackstone stock opened at $143.94 on Monday. The firm has a market cap of $108.04 billion, a PE ratio of 32.20, a P/E/G ratio of 1.60 and a beta of 1.55. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a fifty day moving average price of $126.51 and a 200-day moving average price of $122.51.

Blackstone (NYSE:BX) last posted its quarterly 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 company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Insiders Place Their Bets

In other news, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the transaction, the insider owned 869,669 shares of the company’s stock, valued at $117,883,632.95. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have bought 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 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.