Blackstone Inc. (NYSE:BX) Stock Position Lessened by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 38.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,728 shares of the asset manager’s stock after selling 1,740 shares during the period. Angeles Investment Advisors LLC’s holdings in Blackstone were worth $418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Portside Wealth Group LLC purchased a new position in Blackstone during the third quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares during the period. Blue Trust Inc. increased its stake in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Blackstone in the 3rd quarter valued at $557,000. Finally, Scientech Research LLC bought a new position in Blackstone in the 2nd quarter valued at $1,364,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.8 %

Shares of NYSE:BX traded up $1.50 during mid-day trading on Wednesday, hitting $182.16. 136,522 shares of the company traded hands, compared to its average volume of 3,412,400. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $158.78 and a two-hundred day moving average price of $139.01. Blackstone Inc. has a 12-month low of $100.78 and a 12-month high of $183.96. The stock has a market cap of $131.52 billion, a P/E ratio of 62.12, a P/E/G ratio of 1.57 and a beta of 1.49.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, equities research analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BX shares. Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets lifted their price target on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $157.63.

About Blackstone

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.