Blackstone Inc. (NYSE:BX) Shares Sold by Warther Private Wealth LLC

Warther Private Wealth LLC decreased its position in Blackstone Inc. (NYSE:BX) by 32.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,537 shares of the asset manager’s stock after selling 1,674 shares during the quarter. Warther Private Wealth LLC’s holdings in Blackstone were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. lifted its position in Blackstone by 56.1% during the first quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock worth $540,000 after buying an additional 1,530 shares during the period. United Bank boosted its holdings in Blackstone by 34.2% in the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after acquiring an additional 2,153 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after acquiring an additional 1,034 shares during the last quarter. Insight Advisors LLC PA boosted its holdings in Blackstone by 1.6% in the first quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after acquiring an additional 286 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after acquiring an additional 4,366 shares during the last quarter. Institutional investors and hedge funds own 63.35% of the company’s stock.

Insider Buying and Selling

In related news, insider Multi-Asset Direct Blackstone sold 3,000,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $8.50, for a total value of $25,500,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Joseph Baratta sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $93.08, for a total transaction of $7,911,800.00. Following the completion of the transaction, the director now directly owns 1,060,448 shares in the company, valued at approximately $98,706,499.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Multi-Asset Direct Blackstone sold 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $8.50, for a total transaction of $25,500,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,402,086 shares of company stock valued at $224,463,771. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.4 %

Shares of BX stock traded up $0.41 during trading hours on Wednesday, reaching $112.95. The company had a trading volume of 2,311,160 shares, compared to its average volume of 4,491,076. The company has a 50 day moving average of $102.54 and a 200 day moving average of $92.23. 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 firm has a market cap of $80.17 billion, a price-to-earnings ratio of 68.78, a P/E/G ratio of 1.99 and a beta of 1.49. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $114.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Blackstone had a return on equity of 16.99% and a net margin of 17.92%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm earned $1.49 EPS. Blackstone’s quarterly revenue was up 347.3% compared to the same quarter last year. On average, equities research analysts anticipate 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. Investors of record on Monday, July 31st were paid a $0.79 dividend. The ex-dividend date was Friday, July 28th. This represents a $3.16 annualized dividend and a yield of 2.80%. Blackstone’s dividend payout ratio (DPR) is currently 191.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI upped their price target on shares of Blackstone from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Citigroup raised their price target on shares of Blackstone from $98.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. StockNews.com started coverage on shares of Blackstone in a report on Thursday, August 17th. They set a “hold” rating for the company. Oppenheimer raised their price target on shares of Blackstone from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Finally, Wells Fargo & Company raised their price target on shares of Blackstone from $104.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, July 21st. 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. According to data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $110.97.

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.