Gerber Kawasaki Wealth & Investment Management Has $7.51 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Gerber Kawasaki Wealth & Investment Management decreased its position in shares of Blackstone Inc. (NYSE:BX) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,473 shares of the asset manager’s stock after selling 9,808 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Blackstone were worth $7,508,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BX. Mach 1 Financial Group LLC acquired a new stake in Blackstone during the first quarter valued at approximately $17,568,000. Ruedi Wealth Management Inc. bought a new stake in shares of Blackstone in the 4th quarter valued at $28,000. AXS Investments LLC bought a new stake in shares of Blackstone in the 4th quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Blackstone during the 3rd quarter worth about $42,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Blackstone during the 1st quarter worth about $47,000. Institutional investors and hedge funds own 63.35% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $7.98, for a total value of $117,342,731.94. Following the sale, the insider now directly owns 43,602 shares in the company, valued at approximately $347,943.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, major shareholder Altus Holdings Lp Gso purchased 45,000 shares of Blackstone stock in a transaction on Wednesday, June 14th. The stock was bought at an average cost of $5.47 per share, with a total value of $246,150.00. Following the transaction, the insider now owns 21,116,125 shares of the company’s stock, valued at approximately $115,505,203.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $7.98, for a total transaction of $117,342,731.94. Following the transaction, the insider now directly owns 43,602 shares of the company’s stock, valued at $347,943.96. The disclosure for this sale can be found here. Insiders have sold 20,398,212 shares of company stock valued at $224,028,062 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BX shares. TheStreet raised shares of Blackstone from a “c+” rating to a “b” rating in a report on Thursday, July 20th. BMO Capital Markets lifted their price objective on shares of Blackstone from $93.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, July 21st. Piper Sandler raised their target price on shares of Blackstone from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. StockNews.com assumed coverage on shares of Blackstone in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, UBS Group raised their target price on shares of Blackstone from $102.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $110.97.

Blackstone Stock Up 3.0 %

NYSE:BX traded up $3.28 during mid-day trading on Friday, hitting $112.67. 11,235,502 shares of the company’s stock were exchanged, compared to its average volume of 3,963,896. Blackstone Inc. has a one year low of $71.72 and a one year high of $112.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day moving average price of $101.81 and a 200 day moving average price of $91.89. The company has a market cap of $79.97 billion, a PE ratio of 68.28, a P/E/G ratio of 1.99 and a beta of 1.49.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Blackstone had a net margin of 17.92% and a return on equity of 16.99%. The firm’s quarterly revenue was up 347.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share. Equities analysts predict that Blackstone Inc. will post 4.16 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, July 28th. Blackstone’s dividend payout ratio is currently 191.52%.

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.