GTS Securities LLC Lowers Holdings in Blackstone Inc. $BX

GTS Securities LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 77.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,721 shares of the asset manager’s stock after selling 5,902 shares during the period. GTS Securities LLC’s holdings in Blackstone were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strive Asset Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $30,000. Kelleher Financial Advisors purchased a new position in Blackstone during the third quarter valued at approximately $34,000. Palladiem LLC purchased a new stake in Blackstone during the fourth quarter worth $31,000. Entrust Financial LLC bought a new stake in Blackstone during the 4th quarter valued at $32,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in Blackstone during the fourth quarter valued at about $33,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $143.32 on Tuesday. The stock has a 50-day moving average of $131.06 and a two-hundred day moving average of $122.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $107.58 billion, a P/E ratio of 32.06, a P/E/G ratio of 1.55 and a beta of 1.55. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, research analysts predict that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s dividend payout ratio is 115.44%.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total value of $4,066,500.00. Following the sale, the insider directly owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the transaction, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 1,611,822 shares of company stock valued at $42,189,294 and sold 7,562,000 shares valued at $40,331,085. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research report on Monday, July 20th. Barclays increased their target price on shares of Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Sanford C. Bernstein initiated coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. HSBC reiterated a “hold” rating and set a $135.00 price objective on shares of Blackstone in a report on Monday, July 20th. Finally, Oppenheimer upped their target price on Blackstone from $140.00 to $171.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.43.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.