Motco Sells 559 Shares of Blackstone Inc. $BX

Motco decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,077 shares of the asset manager’s stock after selling 559 shares during the quarter. Motco’s holdings in Blackstone were worth $5,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. 1248 Management LLC bought a new stake in Blackstone during the first quarter worth $25,000. von Borstel & Associates Inc. bought a new stake in Blackstone during the first quarter worth $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone during the first quarter worth $28,000. Anderson Financial Strategies LLC bought a new stake in Blackstone during the first quarter worth $28,000. Finally, Family CFO Inc bought a new stake in Blackstone during the second quarter worth $28,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup decreased their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Wells Fargo & Company boosted their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. The Goldman Sachs Group boosted their price objective on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. BNP Paribas Exane cut their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, TD Cowen cut their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average price target of $179.74.

Blackstone Stock Down 1.3%

Shares of NYSE BX opened at $151.83 on Wednesday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The business’s fifty day moving average price is $169.59 and its 200-day moving average price is $156.43. The stock has a market capitalization of $111.91 billion, a PE ratio of 43.38, a P/E/G ratio of 1.24 and a beta of 1.77.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. On average, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a dividend of $1.29 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.4%. Blackstone’s payout ratio is currently 117.71%.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the 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 of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

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.