Blackstone Inc. (NYSE:BX) Shares Sold by ACT Wealth Management LLC

ACT Wealth Management LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 37.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,080 shares of the asset manager’s stock after selling 1,265 shares during the period. Blackstone makes up 0.1% of ACT Wealth Management LLC’s holdings, making the stock its 28th largest position. ACT Wealth Management LLC’s holdings in Blackstone were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Coppell Advisory Solutions LLC acquired a new stake in shares of Blackstone in the second quarter worth about $25,000. Halpern Financial Inc. increased its stake in Blackstone by 327.1% during the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Exchange Traded Concepts LLC increased its stake in Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the period. DHJJ Financial Advisors Ltd. bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $33,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BX shares. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Bank of America upped their price objective on shares of Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Wednesday, December 20th. Wells Fargo & Company upped their price objective on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $119.53.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the sale, the director now directly owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the sale, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 2.4 %

NYSE:BX opened at $130.89 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $93.54 billion, a price-to-earnings ratio of 71.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a 52 week low of $79.29 and a 52 week high of $133.56. The firm has a 50-day moving average price of $125.32 and a two-hundred day moving average price of $115.89.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter last year, the company earned $1.07 EPS. On average, equities analysts expect that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given a dividend of $0.94 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.87%. Blackstone’s dividend payout ratio is 205.46%.

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.