Focused Wealth Management Inc Has $6.42 Million Stake in Blackstone Inc. $BX

Focused Wealth Management Inc lifted its position in shares of Blackstone Inc. (NYSE:BX) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,800 shares of the asset manager’s stock after buying an additional 5,038 shares during the quarter. Blackstone comprises about 0.7% of Focused Wealth Management Inc’s holdings, making the stock its 26th largest position. Focused Wealth Management Inc’s holdings in Blackstone were worth $6,416,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BX. Brighton Jones LLC increased its holdings 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 purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after buying an additional 177 shares during the period. United Bank increased its stake in shares of Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Nebula Research & Development LLC bought a new position in Blackstone during the second quarter worth $1,124,000. Finally, Sei Investments Co. grew its holdings in Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock opened at $120.12 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50-day simple moving average of $121.33 and a two-hundred day simple moving average of $129.86. The company has a market capitalization of $89.23 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Research analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Activity

In other news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 9,487,234 shares of company stock worth $189,789,892. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on BX. Morgan Stanley cut their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Rothschild & Co Redburn lowered their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

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.