Blackstone Inc. $BX Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 17.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,267 shares of the asset manager’s stock after selling 5,610 shares during the period. Diversify Wealth Management LLC’s holdings in Blackstone were worth $4,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. GHP Investment Advisors Inc. grew its holdings in shares of Blackstone by 3.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock worth $267,000 after purchasing an additional 61 shares during the period. Redwood Financial Network Corp boosted its stake in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares during the period. Obermeyer Wealth Partners increased its position in shares of Blackstone by 2.3% during the third quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 66 shares during the last quarter. Klingman & Associates LLC lifted its holdings in shares of Blackstone by 0.4% in the 3rd quarter. Klingman & Associates LLC now owns 15,116 shares of the asset manager’s stock worth $2,583,000 after acquiring an additional 67 shares during the last quarter. Finally, Lazari Capital Management Inc. increased its holdings in Blackstone by 4.5% in the 3rd quarter. Lazari Capital Management Inc. now owns 1,578 shares of the asset manager’s stock valued at $270,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $117.87 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $144.71 and its 200-day simple moving average is $155.14. The firm has a market capitalization of $87.04 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 0.92 and a beta of 1.76. Blackstone Inc. has a twelve month low of $111.04 and a twelve month high of $190.09.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were paid a $1.49 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, February 9th. Blackstone’s payout ratio is currently 153.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BX. Rothschild & Co Redburn dropped their price objective on Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $176.00 to $158.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Barclays lowered their price objective on shares of Blackstone from $171.00 to $164.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. The Goldman Sachs Group reduced their target price on shares of Blackstone from $166.00 to $158.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Finally, Piper Sandler cut their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.38.

Insider Activity at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was bought at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the purchase, the insider directly owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated 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 directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was 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 currently owned by insiders.

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.