Blackstone Inc. $BX Stock Holdings Trimmed by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 24.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,373 shares of the asset manager’s stock after selling 3,036 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Blackstone were worth $1,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. 1248 Management LLC acquired a new position in shares of Blackstone during the first quarter valued at approximately $25,000. von Borstel & Associates Inc. acquired a new position in shares of Blackstone during the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone in the first quarter valued at $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone during the first quarter worth about $28,000. Finally, Livelsberger Financial Advisory bought a new stake in Blackstone in the second quarter worth about $30,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BX. Barclays boosted their target price on shares of Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Blackstone in a research report on Friday, July 25th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Piper Sandler increased their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, Citigroup restated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.38.

Blackstone Stock Down 1.2%

NYSE:BX opened at $175.86 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market capitalization of $129.63 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.45 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $173.96 and its 200 day moving average price is $152.55.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts forecast 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, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,727,877 shares of company stock valued at $95,046,625 and sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is currently owned by insiders.

Blackstone Company Profile

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.