Slagle Financial LLC Invests $3.11 Million in Blackstone Inc. $BX

Slagle Financial LLC purchased a new position in Blackstone Inc. (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,759 shares of the asset manager’s stock, valued at approximately $3,105,000. Blackstone makes up approximately 1.3% of Slagle Financial LLC’s holdings, making the stock its 25th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted 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 worth $1,365,000 after buying an additional 2,035 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Blackstone by 104.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,321 shares of the asset manager’s stock worth $464,000 after acquiring an additional 1,700 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Blackstone by 6.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 62,042 shares of the asset manager’s stock worth $8,672,000 after purchasing an additional 3,623 shares during the period. Morse Asset Management Inc increased its holdings in shares of Blackstone by 11.6% in the first quarter. Morse Asset Management Inc now owns 16,447 shares of the asset manager’s stock worth $2,299,000 after buying an additional 1,716 shares during the period. Finally, OneAscent Financial Services LLC increased its stake in Blackstone by 24.8% in the 1st quarter. OneAscent Financial Services LLC now owns 3,810 shares of the asset manager’s stock worth $533,000 after purchasing an additional 758 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Citigroup decreased their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. TD Cowen cut their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Evercore ISI lowered their price target on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group raised their price target on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Blackstone has an average rating of “Moderate Buy” and an average target price of $179.00.

Insider Buying and Selling

In related news, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,565,543 shares of company stock worth $69,050,139 over the last quarter. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.4%

NYSE:BX opened at $141.46 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The firm’s 50-day moving average price is $163.12 and its 200-day moving average price is $157.95. The company has a market capitalization of $104.46 billion, a PE ratio of 40.42, a P/E/G ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 net margin of 20.56% and a return on equity of 22.30%. On average, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. Blackstone’s dividend payout ratio is 147.43%.

Blackstone 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.