Blackstone Inc. (NYSE:BX) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,906 shares of the asset manager’s stock after selling 303 shares during the quarter. Profund Advisors LLC’s holdings in Blackstone were worth $1,350,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in Blackstone during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone in the second quarter valued at about $27,000. Bank & Trust Co purchased a new stake in Blackstone during the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Blackstone during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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 $113,305,632. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 transaction of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.6 %

Shares of BX opened at $157.21 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $112.35 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25. The company has a 50-day moving average price of $140.08 and a two-hundred day moving average price of $129.63.

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

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued 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 2.09%. Blackstone’s dividend payout ratio is currently 115.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BX. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Wells Fargo & Company began coverage on Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective for the company. Bank of America lifted their target price on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. TD Cowen lifted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Piper Sandler lifted their price objective on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.78.

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.