Strategic Wealth Partners Ltd. Sells 4,164 Shares of Blackstone Inc. (NYSE:BX)

Strategic Wealth Partners Ltd. reduced its holdings in shares of Blackstone Inc. (NYSE:BX) by 25.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,157 shares of the asset manager’s stock after selling 4,164 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Blackstone were worth $1,862,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BX. Moseley Investment Management Inc. grew its position in Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after buying an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. increased its stake 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 worth $1,713,000 after purchasing an additional 80 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Blackstone by 0.6% in the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 80 shares during the period. WR Wealth Planners LLC grew its holdings in 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 purchasing an additional 84 shares during the period. Finally, Beaumont Asset Management L.L.C. raised its stake in shares of Blackstone by 1.3% in the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock valued at $826,000 after buying an additional 84 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $149.44 on Wednesday. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The firm’s fifty day moving average price is $142.79 and its 200-day moving average price is $131.54. The stock has a market cap of $106.80 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during 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%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, equities research analysts expect that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BX shares. Morgan Stanley lifted their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. 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 note on Thursday, October 3rd. 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. TD Cowen raised their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $133.06.

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.