Blackstone Inc. (NYSE:BX) Shares Acquired by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,125 shares of the asset manager’s stock after acquiring an additional 399 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Blackstone were worth $5,091,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BX. Chilton Capital Management LLC purchased a new stake in Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new position in Blackstone during the 2nd quarter worth approximately $27,000. Bank & Trust Co purchased a new stake in shares of Blackstone in the second quarter valued at $29,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Blackstone during the second quarter valued at $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 3.2 %

Shares of NYSE:BX opened at $151.19 on Monday. The company has a market capitalization of $108.87 billion, a PE ratio of 53.42, a P/E/G ratio of 1.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company’s fifty day moving average is $136.38 and its 200-day moving average is $128.34. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $151.87.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. Equities research analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Bank of America raised their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley increased their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler boosted their target price on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Barclays lifted their price objective on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.78.

Blackstone 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.