84,008 Shares in Blackstone Inc. $BX Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 84,008 shares of the asset manager’s stock, valued at approximately $9,885,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Blackstone during the second quarter worth $6,112,162,000. Norges Bank bought a new position in Blackstone in the 4th quarter valued at approximately $1,275,747,000. Bank of New York Mellon Corp bought a new stake in Blackstone during the 2nd quarter worth approximately $514,736,000. Capital Research Global Investors lifted its holdings in shares of Blackstone by 99.2% during the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock worth $983,690,000 after purchasing an additional 3,178,133 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Blackstone in the second quarter worth $270,380,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 869,669 shares in the company, valued at $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 3.2%

Shares of BX opened at $145.15 on Thursday. The firm has a market cap of $108.95 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.56. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50-day moving average of $127.99 and a 200 day moving average of $122.43.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 35.9% on a year-over-year basis. As a group, research analysts forecast that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $1.29 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s payout ratio is currently 115.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BX shares. Argus upped their price target on Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating for the company. BNP Paribas Exane reduced their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein initiated coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.95.

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.