United Capital Financial Advisers LLC Increases Stake in Blackstone Inc. (NYSE:BX)

United Capital Financial Advisers LLC boosted its stake in shares of Blackstone Inc. (NYSE:BXGet Rating) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,363 shares of the asset manager’s stock after acquiring an additional 3,678 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Blackstone were worth $8,700,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Blackstone by 12.6% in the first quarter. Vanguard Group Inc. now owns 44,984,296 shares of the asset manager’s stock valued at $5,710,306,000 after purchasing an additional 5,048,383 shares during the period. BlackRock Inc. grew its holdings in Blackstone by 4.8% in the first quarter. BlackRock Inc. now owns 38,236,401 shares of the asset manager’s stock valued at $4,853,728,000 after purchasing an additional 1,750,719 shares during the period. State Street Corp grew its holdings in Blackstone by 6.9% in the first quarter. State Street Corp now owns 16,487,151 shares of the asset manager’s stock valued at $2,092,879,000 after purchasing an additional 1,061,681 shares during the period. Brown Advisory Inc. grew its holdings in Blackstone by 15.8% in the second quarter. Brown Advisory Inc. now owns 5,650,158 shares of the asset manager’s stock valued at $529,210,000 after purchasing an additional 772,925 shares during the period. Finally, Northern Trust Corp grew its holdings in Blackstone by 8.6% in the first quarter. Northern Trust Corp now owns 5,041,373 shares of the asset manager’s stock valued at $639,952,000 after purchasing an additional 401,063 shares during the period. 61.87% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE BX opened at $88.52 on Thursday. The stock’s fifty day moving average is $90.16 and its two-hundred day moving average is $97.37. The firm has a market capitalization of $62.12 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.85. Blackstone Inc. has a fifty-two week low of $79.54 and a fifty-two week high of $149.51.

Blackstone (NYSE:BXGet Rating) last released its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.52 billion. Blackstone had a return on equity of 20.75% and a net margin of 20.58%. The firm’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. On average, research analysts anticipate that Blackstone Inc. will post 5.15 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were given a $0.90 dividend. The ex-dividend date was Friday, October 28th. This represents a $3.60 dividend on an annualized basis and a yield of 4.07%. Blackstone’s dividend payout ratio is currently 101.70%.

Wall Street Analyst Weigh In

Several brokerages have commented on BX. Barclays dropped their price objective on Blackstone from $120.00 to $104.00 in a report on Monday, October 10th. Argus lowered their price target on Blackstone from $137.00 to $115.00 in a research note on Tuesday, October 25th. The Goldman Sachs Group lowered their price target on Blackstone from $117.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, October 3rd. StockNews.com lowered Blackstone from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Finally, Credit Suisse Group lowered Blackstone from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $85.50 to $67.50 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.10.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of Blackstone stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $7.46, for a total value of $90,673,845.66. Following the sale, the insider now owns 295 shares in the company, valued at $2,200.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of Blackstone stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $7.46, for a total value of $90,673,845.66. Following the sale, the insider now owns 295 shares in the company, valued at $2,200.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 50,000 shares of Blackstone stock in a transaction on Friday, November 11th. The shares were sold at an average price of $107.21, for a total value of $5,360,500.00. Following the completion of the sale, the insider now owns 355,698 shares in the company, valued at approximately $38,134,382.58. The disclosure for this sale can be found here. Insiders have sold 20,203,671 shares of company stock worth $207,047,536 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Blackstone Company Profile

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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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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