B & T Capital Management DBA Alpha Capital Management Cuts Position in Blackstone Inc. (NYSE:BX)

B & T Capital Management DBA Alpha Capital Management reduced its position in shares of Blackstone Inc. (NYSE:BX) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,438 shares of the asset manager’s stock after selling 2,897 shares during the period. Blackstone accounts for about 1.8% of B & T Capital Management DBA Alpha Capital Management’s portfolio, making the stock its 12th largest holding. B & T Capital Management DBA Alpha Capital Management’s holdings in Blackstone were worth $9,561,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC acquired a new position in shares of Blackstone during the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Up 1.1 %

NYSE:BX traded up $1.61 during trading hours on Thursday, hitting $150.03. The company’s stock had a trading volume of 641,036 shares, compared to its average volume of 3,415,460. The stock has a market capitalization of $107.22 billion, a P/E ratio of 52.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The stock has a fifty day moving average of $143.08 and a 200-day moving average of $131.81. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during 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 last year, the company earned $0.93 EPS. On average, equities analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders 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 payout ratio is 115.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BX. Barclays upped their price objective on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Company upped their price objective on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. 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. Morgan Stanley upped their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $133.41.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.