Childress Capital Advisors LLC Has $222,000 Position in Blackstone Inc. $BX

Childress Capital Advisors LLC lessened its position in Blackstone Inc. (NYSE:BX) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,482 shares of the asset manager’s stock after selling 288 shares during the period. Childress Capital Advisors LLC’s holdings in Blackstone were worth $222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after buying an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. raised its holdings in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after purchasing an additional 1,102,949 shares during the last quarter. Nuveen LLC bought a new stake in Blackstone during the 1st quarter worth about $151,524,000. Amundi raised its holdings in Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after purchasing an additional 990,947 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.5%

Shares of BX opened at $168.22 on Thursday. The firm’s 50 day simple moving average is $174.23 and its 200 day simple moving average is $153.48. The company has a market capitalization of $124.00 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.39 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.4%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Piper Sandler upped their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Citigroup reaffirmed a “market perform” rating on shares of Blackstone in a research note on Saturday, July 19th. Finally, JMP Securities upped their price target on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research note on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and an average price target of $172.71.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by insiders.

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.