Wealth Alliance Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Wealth Alliance lessened its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 14.2% during the third quarter, HoldingsChannel.com reports. The fund owned 3,593 shares of the asset manager’s stock after selling 595 shares during the quarter. Wealth Alliance’s holdings in Blackstone were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Principle Wealth Partners LLC raised its stake in Blackstone by 0.5% during the 2nd quarter. Principle Wealth Partners LLC now owns 19,817 shares of the asset manager’s stock valued at $1,842,000 after buying an additional 100 shares during the last quarter. Clarius Group LLC boosted its position in Blackstone by 1.1% in the second quarter. Clarius Group LLC now owns 9,158 shares of the asset manager’s stock worth $851,000 after purchasing an additional 100 shares during the last quarter. Means Investment CO. Inc. increased its position in shares of Blackstone by 0.4% during the 2nd quarter. Means Investment CO. Inc. now owns 25,960 shares of the asset manager’s stock valued at $2,414,000 after purchasing an additional 104 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Blackstone by 4.3% in the second quarter. Regal Investment Advisors LLC now owns 2,561 shares of the asset manager’s stock worth $238,000 after buying an additional 105 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in Blackstone by 8.6% during the second quarter. Glassman Wealth Services now owns 1,346 shares of the asset manager’s stock valued at $125,000 after buying an additional 107 shares during the last quarter. 63.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BX shares. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods raised their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. TD Cowen started coverage on shares of Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target on shares of Blackstone in a report on Wednesday, December 20th. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $117.81.

View Our Latest Research Report on Blackstone

Insider Buying and Selling at Blackstone

In related news, CAO David Payne sold 5,500 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $128.21, for a total value of $705,155.00. Following the transaction, the chief accounting officer now owns 47,781 shares of the company’s stock, valued at $6,126,002.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the transaction, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David Payne sold 5,500 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $128.21, for a total transaction of $705,155.00. Following the completion of the transaction, the chief accounting officer now owns 47,781 shares in the company, valued at approximately $6,126,002.01. The disclosure for this sale can be found here. Insiders have sold 83,352 shares of company stock valued at $10,668,224 in the last quarter. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 0.1 %

Shares of BX stock opened at $127.68 on Monday. The company has a market cap of $90.72 billion, a PE ratio of 69.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $123.13 and its two-hundred day simple moving average is $110.48. Blackstone Inc. has a 1 year low of $76.19 and a 1 year high of $133.53.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Research analysts predict that Blackstone Inc. will post 4.95 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Monday, February 5th will be paid a dividend of $0.94 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Blackstone Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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