Prosperity Consulting Group LLC Sells 740 Shares of Blackstone Inc. $BX

Prosperity Consulting Group LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,293 shares of the asset manager’s stock after selling 740 shares during the period. Prosperity Consulting Group LLC’s holdings in Blackstone were worth $1,689,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BX. Brighton Jones LLC grew its stake in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Wayfinding Financial LLC bought a new position in Blackstone in the first quarter valued at approximately $36,000. Financial Counselors Inc. lifted its stake in Blackstone by 846.0% in the 1st quarter. Financial Counselors Inc. now owns 74,037 shares of the asset manager’s stock valued at $10,349,000 after purchasing an additional 66,211 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Blackstone by 0.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 31,563 shares of the asset manager’s stock valued at $4,412,000 after purchasing an additional 147 shares during the last quarter. Finally, Black Diamond Financial LLC lifted its stake in Blackstone by 7.9% in the 1st quarter. Black Diamond Financial LLC now owns 1,563 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 114 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the business’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 completion of the transaction, the insider directly owned 453,836 shares in the company, valued at $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 2,551,515 shares of company stock valued at $67,038,327 and sold 16,884,634 shares valued at $138,445,346. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.0%

NYSE BX opened at $142.94 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a 50 day moving average of $167.43 and a 200-day moving average of $157.18. The company has a market cap of $105.36 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 1.18 and a beta of 1.77.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $2.49 billion during the quarter. On average, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be given a $1.29 dividend. The ex-dividend date is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $166.00 target price on shares of Blackstone and gave the company a “buy” rating in a research note on Friday, October 24th. Evercore ISI cut their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Citigroup cut their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, TD Cowen dropped their price target on Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.74.

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.