Kingsview Wealth Management LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Kingsview Wealth Management LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,773 shares of the asset manager’s stock after selling 804 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Blackstone were worth $3,028,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after buying an additional 64 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Blackstone by 1.1% during the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on 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 $120,610,146.69. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 2.6 %

NYSE BX opened at $199.05 on Monday. The company has a market capitalization of $143.71 billion, a PE ratio of 68.40, a P/E/G ratio of 1.65 and a beta of 1.49. Blackstone Inc. has a 12 month low of $105.51 and a 12 month high of $199.95. The stock has a 50-day simple moving average of $165.86 and a 200 day simple moving average of $142.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BX shares. Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. 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 target price on the stock. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. TD Cowen upped their price objective on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $157.63.

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.