M3 Advisory Group LLC Reduces Holdings in Blackstone Inc. $BX

M3 Advisory Group LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,966 shares of the asset manager’s stock after selling 124 shares during the quarter. M3 Advisory Group LLC’s holdings in Blackstone were worth $892,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Blackstone during the first quarter worth $25,000. von Borstel & Associates Inc. acquired a new position in Blackstone during the first quarter worth $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone during the first quarter worth $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone during the first quarter worth $28,000. Finally, Family CFO Inc acquired a new position in Blackstone during the second quarter worth $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares in the company, valued at $77,814,720.56. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BX shares. Piper Sandler lowered their price objective on Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday. 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. Evercore ISI upped their price target on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, TD Cowen decreased their price target on Blackstone from $215.00 to $208.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Price Performance

BX stock opened at $153.88 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $113.42 billion, a PE ratio of 41.37, a P/E/G ratio of 1.25 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The business’s fifty day moving average price is $172.53 and its 200 day moving average price is $154.28.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.7%. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

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.