CMH Wealth Management LLC Sells 3,925 Shares of Blackstone Inc. $BX

CMH Wealth Management LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,032 shares of the asset manager’s stock after selling 3,925 shares during the quarter. CMH Wealth Management LLC’s holdings in Blackstone were worth $4,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in Blackstone in the second quarter valued at approximately $221,478,000. Manning & Napier Advisors LLC bought a new position in shares of Blackstone in the 2nd quarter worth $8,667,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Blackstone by 9.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock worth $15,561,000 after acquiring an additional 8,321 shares during the last quarter. Matrix Private Capital Group LLC purchased a new position in Blackstone in the first quarter worth $1,340,000. Finally, Marble Wealth LLC bought a new position in Blackstone in the fourth quarter valued at $7,303,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv L.P. Blackstone acquired 272,642 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of $26.14 per share, for a total transaction of $7,126,861.88. Following the transaction, the insider owned 8,704,419 shares in the company, valued at $227,533,512.66. This represents a 3.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Payne sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the transaction, the chief accounting officer owned 64,448 shares of the company’s stock, valued at approximately $9,359,783.04. This represents a 12.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have bought 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a report on Monday, June 8th. They issued a “buy” rating for the company. Rothschild & Co Redburn cut their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Barclays lifted their price target on shares of Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Blackstone Stock Performance

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

Blackstone (NYSE:BX) last posted its quarterly 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. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Analysts expect that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is presently 115.44%.

About Blackstone

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.