GLOBALT Investments LLC GA Makes New Investment in Blackstone Inc. $BX

by · The Markets Daily

GLOBALT Investments LLC GA purchased a new stake in shares of Blackstone Inc. (NYSE:BX – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,357 shares of the asset manager’s stock, valued at approximately $1,599,000.

Other institutional investors have also added to or reduced their stakes in the company. Traub Capital Management LLC bought a new position in shares of Blackstone during the second quarter valued at $27,000. 1248 Management LLC purchased a new position in Blackstone in the 1st quarter worth about $25,000. Family CFO Inc purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone in the first quarter worth approximately $28,000. Finally, Anderson Financial Strategies LLC bought a new position in Blackstone during the first quarter valued at approximately $28,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 324 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 113,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 797,148 shares of company stock worth $24,050,153 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE BX opened at $155.20 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $190.09. The stock has a market cap of $114.61 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 1.32 and a beta of 1.76. The company’s 50 day moving average is $149.24 and its two-hundred day moving average is $159.52.

Blackstone (NYSE:BX – Get Free Report) 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 net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion during the quarter. As a group, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s dividend payout ratio is currently 147.43%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Citigroup reduced their price objective on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. TD Cowen dropped their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Bank of America lowered their price objective on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group upped their target price on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and a consensus target price of $179.95.

View Our Latest Report on Blackstone

Blackstone Company Profile

(Free Report)

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.

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