Maia Wealth LLC Takes $228,000 Position in Blackstone Inc. (NYSE:BX)

Maia Wealth LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,719 shares of the asset manager’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Northwest Financial Advisors acquired a new stake in shares of Blackstone during the fourth quarter worth $25,000. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter valued at approximately $26,000. Bourgeon Capital Management LLC raised its holdings in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Bank & Trust Co acquired a new position in shares of Blackstone in the 2nd quarter valued at $29,000. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BX. Barclays increased their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Bank of America lifted their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Morgan Stanley upped their target price on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $127.56.

Blackstone Price Performance

Shares of Blackstone stock traded up $1.02 during trading on Wednesday, reaching $134.37. 58,955 shares of the company’s stock were exchanged, compared to its average volume of 3,516,159. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The company has a market cap of $96.03 billion, a P/E ratio of 47.12, a PEG ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $145.16. The firm’s 50-day moving average price is $128.60 and its 200 day moving average price is $126.23.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business 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 firm’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 EPS. As a group, research analysts anticipate that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is presently 115.90%.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction 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 approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Baratta sold 116,448 shares of the company’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 transaction of $14,323,104.00. Following the transaction, the director now directly 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 through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

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.