Robertson Stephens Wealth Management LLC Acquires 1,539 Shares of Blackstone Inc. $BX

Robertson Stephens Wealth Management LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 27.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,167 shares of the asset manager’s stock after purchasing an additional 1,539 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Blackstone were worth $1,072,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BX. Brighton Jones LLC lifted 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 worth $1,365,000 after buying an additional 2,035 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Blackstone by 32.2% in the first quarter. Pallas Capital Advisors LLC now owns 3,419 shares of the asset manager’s stock worth $478,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Blackstone by 5.2% in the first quarter. GAMMA Investing LLC now owns 9,462 shares of the asset manager’s stock worth $1,323,000 after buying an additional 470 shares in the last quarter. Simon Quick Advisors LLC increased its stake in Blackstone by 31.7% during the first quarter. Simon Quick Advisors LLC now owns 7,042 shares of the asset manager’s stock worth $984,000 after acquiring an additional 1,697 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Blackstone by 2.2% during the first quarter. Fifth Third Bancorp now owns 115,736 shares of the asset manager’s stock worth $16,178,000 after acquiring an additional 2,462 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Down 4.2%

BX opened at $153.88 on Friday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The stock has a market cap of $113.42 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 1.31 and a beta of 1.77. The stock’s 50 day moving average price is $172.53 and its 200-day moving average price is $154.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $2.49 billion for the quarter. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s payout ratio is currently 110.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. BMO Capital Markets assumed coverage on Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.00.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is 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.