Ullmann Wealth Partners Group LLC Makes New $702,000 Investment in Blackstone Inc. (NYSE:BX)

Ullmann Wealth Partners Group LLC bought a new position in Blackstone Inc. (NYSE:BX) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,586 shares of the asset manager’s stock, valued at approximately $702,000.

Several other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC raised its position in shares of Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after buying an additional 73 shares during the period. Moseley Investment Management Inc. raised its position in Blackstone by 0.7% in the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. raised its position in Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares during the period. Signaturefd LLC raised its position in Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 80 shares during the period. Finally, WR Wealth Planners LLC raised its position in Blackstone by 23.7% in the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group boosted their price target on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $136.18.

Blackstone Stock Performance

Shares of BX traded up $0.83 during mid-day trading on Tuesday, hitting $156.32. 2,614,920 shares of the company’s stock were exchanged, compared to its average volume of 3,410,287. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The firm has a market capitalization of $111.71 billion, a P/E ratio of 55.17, a P/E/G ratio of 1.24 and a beta of 1.51. The business’s 50 day moving average is $144.24 and its two-hundred day moving average is $132.31. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced 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 analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. On average, equities analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.10%. Blackstone’s payout ratio is 115.90%.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.