Beta Wealth Group Inc. Has $1.50 Million Stock Holdings in Blackstone Inc. $BX

Beta Wealth Group Inc. lowered its position in Blackstone Inc. (NYSE:BX) by 74.8% during the third quarter, HoldingsChannel.com reports. The firm owned 8,786 shares of the asset manager’s stock after selling 26,044 shares during the quarter. Beta Wealth Group Inc.’s holdings in Blackstone were worth $1,501,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after buying an additional 177 shares in the last quarter. United Bank boosted its stake in shares of Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of Blackstone by 13.2% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 7,460 shares of the asset manager’s stock valued at $1,116,000 after acquiring an additional 872 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its position in Blackstone by 12.9% during the second quarter. Cidel Asset Management Inc. now owns 1,687 shares of the asset manager’s stock worth $252,000 after purchasing an additional 193 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the transaction, the insider owned 16,332,883 shares in the company, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BX. Citigroup restated a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. BMO Capital Markets cut their price target on Blackstone from $180.00 to $165.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. The Goldman Sachs Group lowered their price objective on shares of Blackstone from $166.00 to $158.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. TD Cowen reduced their price target on shares of Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Evercore dropped their price objective on shares of Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.82.

Blackstone Stock Performance

NYSE BX opened at $129.93 on Tuesday. The stock has a market cap of $95.94 billion, a P/E ratio of 33.49, a PEG ratio of 1.01 and a beta of 1.76. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The company’s 50-day simple moving average is $149.70 and its 200 day simple moving average is $157.58.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company posted $1.69 EPS. The company’s revenue was up 41.4% compared to the same quarter last year. As a group, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be given a dividend of $1.49 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.6%. Blackstone’s dividend payout ratio is 153.61%.

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.