Blackstone Inc. (NYSE:BX) Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 13,435 shares of the asset manager’s stock after selling 323 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Blackstone were worth $2,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc increased its stake in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in Blackstone during the 3rd quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after buying an additional 7,692 shares in the last quarter. Aljian Capital Management LLC acquired a new position in shares of Blackstone in the third quarter worth $1,951,000. Finally, Blue Trust Inc. grew its stake in Blackstone by 936.2% during the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after purchasing an additional 5,383 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

NYSE BX opened at $194.21 on Friday. The business’s 50 day moving average is $164.90 and its two-hundred day moving average is $141.94. Blackstone Inc. has a 12-month low of $105.51 and a 12-month high of $194.64. The stock has a market capitalization of $140.22 billion, a price-to-earnings ratio of 66.74, a PEG ratio of 1.57 and a beta of 1.49. 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 released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Research analysts expect that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.77%. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $157.63.

About Blackstone

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.