Blackstone Inc. (NYSE:BX) Holdings Cut by Intrepid Financial Planning Group LLC

Intrepid Financial Planning Group LLC cut its stake in Blackstone Inc. (NYSE:BX) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,118 shares of the asset manager’s stock after selling 1,118 shares during the quarter. Blackstone makes up 0.9% of Intrepid Financial Planning Group LLC’s portfolio, making the stock its 27th biggest holding. Intrepid Financial Planning Group LLC’s holdings in Blackstone were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Wulff Hansen & CO. increased its stake in shares of Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Capital World Investors raised its holdings in Blackstone by 7.5% during the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after buying an additional 2,546,886 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Blackstone during the 4th quarter worth about $290,514,000. Lazard Asset Management LLC raised its stake in shares of Blackstone by 19,048.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after acquiring an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 0.1 %

BX stock opened at $154.93 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $110.72 billion, a P/E ratio of 54.75, a P/E/G ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $157.76. The business’s 50 day moving average is $138.34 and its 200-day moving average is $128.90.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BX shares. Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Bank of America raised their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler increased their target price on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company assumed coverage on Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price target for the company. Finally, Barclays raised their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $130.78.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s 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 transaction, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s 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 sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.