Blackstone Inc. (NYSE:BX) Shares Acquired by United Capital Financial Advisers LLC

United Capital Financial Advisers LLC raised its holdings in shares of Blackstone Inc. (NYSE:BXGet Rating) by 4.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 95,363 shares of the asset manager’s stock after buying an additional 3,678 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Blackstone were worth $8,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bristlecone Advisors LLC acquired a new position in shares of Blackstone during the 2nd quarter worth about $230,000. Equitable Trust Co. acquired a new stake in shares of Blackstone in the 1st quarter valued at about $339,000. Manchester Capital Management LLC boosted its position in shares of Blackstone by 157.5% in the 1st quarter. Manchester Capital Management LLC now owns 3,862 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 2,362 shares during the period. CRA Financial Services LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $352,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $883,000. 61.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the sale, the insider now owns 21,825,125 shares in the company, valued at $240,294,626.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the sale, the insider now owns 21,825,125 shares in the company, valued at $240,294,626.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 50,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $107.21, for a total value of $5,360,500.00. Following 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. In the last 90 days, insiders have sold 20,203,671 shares of company stock worth $207,047,536. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $88.52 on Thursday. The business’s fifty day moving average price is $90.16 and its two-hundred day moving average price is $97.37. The stock has a market cap of $62.12 billion, a PE 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 one year low of $79.54 and a one year high of $149.51.

Blackstone (NYSE:BXGet Rating) last announced its earnings results on Thursday, October 20th. The asset manager reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Blackstone had a return on equity of 20.75% and a net margin of 20.58%. Blackstone’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, analysts forecast that Blackstone Inc. will post 5.15 EPS for the current fiscal year.

Blackstone Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Blackstone from $117.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, October 3rd. Wells Fargo & Company reduced their price objective on Blackstone from $91.00 to $88.00 and set an “equal weight” rating for the company in a research note on Friday, October 21st. Keefe, Bruyette & Woods downgraded Blackstone from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $127.00 to $115.00 in a research note on Wednesday, August 3rd. Barclays reduced their price objective on Blackstone from $120.00 to $104.00 in a research note on Monday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $127.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.10.

Blackstone 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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