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

Alaethes Wealth LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,057 shares of the asset manager’s stock after purchasing an additional 175 shares during the period. Blackstone comprises approximately 1.1% of Alaethes Wealth LLC’s investment portfolio, making the stock its 22nd biggest holding. Alaethes Wealth LLC’s holdings in Blackstone were worth $2,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Moseley Investment Management Inc. increased its stake in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares in the last quarter. Signaturefd LLC raised its position in Blackstone by 0.6% during the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during the period. WR Wealth Planners LLC increased its stake in shares of Blackstone by 23.7% during the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock worth $54,000 after purchasing an additional 84 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. increased its stake in Blackstone by 1.3% during the 2nd quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after buying an additional 84 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 0.9 %

Shares of BX opened at $158.15 on Friday. 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 stock has a market capitalization of $113.02 billion, a PE ratio of 55.88, a P/E/G ratio of 1.23 and a beta of 1.51. The company’s 50-day simple moving average is $139.58 and its 200-day simple moving average is $129.33. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $161.25.

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 analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s revenue was up 166.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. Analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.07%. Blackstone’s payout ratio is 115.90%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts recently commented on BX shares. Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Bank of America increased their price objective on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company started coverage on shares of Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price objective for the company. Fourteen equities 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 an average target price 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.