Investors Asset Management of Georgia Inc. GA ADV Grows Holdings in Blackstone Inc. $BX

Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 37.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,569 shares of the asset manager’s stock after acquiring an additional 5,821 shares during the period. Blackstone makes up 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 22nd biggest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $2,480,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in BX. Family CFO Inc bought a new stake in Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC bought a new stake in shares of Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. bought a new position in shares of Blackstone during the 4th quarter valued at $29,000. Strive Asset Management LLC purchased a new position in Blackstone in the 3rd quarter worth $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 10,252,345 shares of company stock valued at $209,789,893 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Royal Bank Of Canada started coverage on shares of Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. Barclays decreased their price objective on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. BMO Capital Markets increased their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Oppenheimer upped their price target on Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group lifted their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.36.

Blackstone Stock Down 0.0%

Shares of NYSE:BX opened at $122.73 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $119.67 and a two-hundred day simple moving average of $128.02. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The stock has a market capitalization of $91.17 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.33 and a beta of 1.58.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. On average, research analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio is presently 118.67%.

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.