Gold Investment Management Ltd. Decreases Stock Position in Blackstone Inc. $BX

Gold Investment Management Ltd. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 26.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 850 shares of the asset manager’s stock after selling 309 shares during the period. Gold Investment Management Ltd.’s holdings in Blackstone were worth $130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BX. Mattern Wealth Management LLC boosted its stake in Blackstone by 2.8% during the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after buying an additional 60 shares during the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Blackstone by 0.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after purchasing an additional 63 shares during the last quarter. Jeppson Wealth Management LLC lifted its stake in shares of Blackstone by 1.0% in the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after purchasing an additional 66 shares during the last quarter. McAdam LLC lifted its stake in shares of Blackstone by 4.4% in the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 75 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in shares of Blackstone by 0.6% in the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BX shares. Evercore ISI boosted their price objective on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Piper Sandler upped their price target on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company upped their price target on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $172.71.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 453,836 shares of the company’s stock, valued at $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.5%

Shares of NYSE BX opened at $168.22 on Thursday. The stock has a market cap of $124.00 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.39 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The business has a 50-day moving average price of $174.23 and a 200 day moving average price of $153.48.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 32.7% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is 110.75%.

Blackstone Profile

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.