Joel Isaacson & Co. LLC Acquires 4,176 Shares of Blackstone Inc. $BX

Joel Isaacson & Co. LLC grew its stake in Blackstone Inc. (NYSE:BX) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,427 shares of the asset manager’s stock after purchasing an additional 4,176 shares during the period. Joel Isaacson & Co. LLC’s holdings in Blackstone were worth $4,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Traub Capital Management LLC bought a new position in shares of Blackstone in the 2nd quarter valued at $27,000. Family CFO Inc bought a new stake in shares of Blackstone during the second quarter worth about $28,000. Parvin Asset Management LLC bought a new position in Blackstone in the 2nd quarter valued at approximately $35,000. Rexford Capital Inc. bought a new stake in Blackstone during the 2nd quarter worth approximately $35,000. Finally, RMG Wealth Management LLC bought a new position in shares of Blackstone during the second quarter valued at $40,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of several analyst reports. UBS Group lowered their target price on Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Morgan Stanley lifted their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Barclays cut their price target on shares of Blackstone from $172.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Friday, January 9th. Finally, BNP Paribas Exane cut their target price on Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.25.

Blackstone Trading Down 5.8%

Shares of Blackstone stock opened at $153.94 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $151.59 and a two-hundred day moving average price of $161.43. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09. The stock has a market capitalization of $113.68 billion, a PE ratio of 43.98, a price-to-earnings-growth ratio of 1.15 and a beta of 1.75.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.4%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio is currently 147.43%.

Insider Activity

In other news, Director James Breyer bought 13,900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were purchased at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at $429,818,293.17. The trade was a 2.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 797,148 shares of company stock worth $24,050,153. 1.00% of the stock is owned by insiders.

About Blackstone

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.