Blackstone Inc. (NYSE:BX) Position Lowered by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC decreased its position in Blackstone Inc. (NYSE:BX) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,312 shares of the asset manager’s stock after selling 388 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Blackstone were worth $295,000 as of its most recent SEC filing.

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

Blackstone Trading Down 0.6 %

Shares of NYSE BX opened at $157.21 on Tuesday. The business has a fifty day simple moving average of $140.08 and a 200-day simple moving average of $129.63. The company 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 quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its earnings results 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $0.93 earnings per share. The business’s revenue was up 166.9% on a year-over-year basis. Sell-side 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 given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BX shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Barclays increased their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Wells Fargo & Company began coverage on shares of Blackstone in a research note on Thursday, September 12th. They set an “overweight” rating and a $163.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.78.

Insider Buying and Selling

In other 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 completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.