AE Wealth Management LLC Has $1.25 Million Stake in Blackstone Inc. (NYSE:BX)

AE Wealth Management LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 100.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,119 shares of the asset manager’s stock after purchasing an additional 5,072 shares during the quarter. AE Wealth Management LLC’s holdings in Blackstone were worth $1,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Chilton Capital Management LLC acquired a new position in Blackstone in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in Blackstone in the 2nd quarter valued at about $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the second quarter worth approximately $29,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Blackstone in the second quarter valued at approximately $31,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 0.3 %

Shares of BX stock opened at $157.61 on Wednesday. The stock has a 50-day moving average of $140.49 and a 200-day moving average of $129.86. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $112.64 billion, a price-to-earnings ratio of 55.69, a PEG ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Bank of America upped their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $130.78.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. 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.