Hexagon Capital Partners LLC Sells 362 Shares of Blackstone Inc. (NYSE:BX)

Hexagon Capital Partners LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,648 shares of the asset manager’s stock after selling 362 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Blackstone were worth $1,171,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the second quarter valued at about $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter valued at about $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’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 sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Redburn Atlantic started 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. Wells Fargo & Company upped their price objective on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen upped their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $133.41.

Blackstone Stock Performance

NYSE BX opened at $148.41 on Thursday. 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 has a market capitalization of $106.06 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a 50-day simple moving average of $142.95 and a 200 day simple moving average of $131.69.

Blackstone (NYSE:BX) last announced 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 the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. On average, research analysts predict that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is currently 115.90%.

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.