Sei Investments Co. Sells 1,780 Shares of Blackstone Inc. (NYSE:BX)

Sei Investments Co. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 548,627 shares of the asset manager’s stock after selling 1,780 shares during the period. Sei Investments Co. owned 0.08% of Blackstone worth $67,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Aveo Capital Partners LLC bought a new position in shares of Blackstone during the 4th quarter valued at approximately $217,000. CreativeOne Wealth LLC bought a new position in Blackstone during the fourth quarter valued at $238,000. Assetmark Inc. increased its holdings in shares of Blackstone by 11.6% in the 4th quarter. Assetmark Inc. now owns 25,510 shares of the asset manager’s stock worth $3,340,000 after buying an additional 2,648 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Blackstone by 2.8% in the 4th quarter. US Bancorp DE now owns 160,073 shares of the asset manager’s stock valued at $20,957,000 after acquiring an additional 4,401 shares during the last quarter. Finally, Commerce Bank increased its stake in Blackstone by 9.1% during the fourth quarter. Commerce Bank now owns 35,241 shares of the asset manager’s stock worth $4,614,000 after acquiring an additional 2,946 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. Wells Fargo & Company assumed coverage on Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 target price for the company. Bank of America increased their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Redburn Atlantic assumed 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. Finally, Piper Sandler increased their price target on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $130.78.

Blackstone Stock Down 1.0 %

NYSE:BX opened at $158.12 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $113.00 billion, a PE ratio of 55.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The company has a 50-day moving average of $139.58 and a 200 day moving average of $129.36. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25.

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 the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. As a group, research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.07%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’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 transaction of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred 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 directly owns 921,184 shares in the company, 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.