Alpha Cubed Investments LLC Has $655,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Alpha Cubed Investments LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,287 shares of the asset manager’s stock after selling 500 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Blackstone were worth $655,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BX. International Assets Investment Management LLC boosted its position in Blackstone by 6.3% during the fourth quarter. International Assets Investment Management LLC now owns 27,680 shares of the asset manager’s stock valued at $3,624,000 after purchasing an additional 1,640 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Blackstone by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 66,788 shares of the asset manager’s stock valued at $8,744,000 after buying an additional 8,210 shares during the last quarter. Financial Counselors Inc. lifted its position in shares of Blackstone by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 9,984 shares of the asset manager’s stock valued at $1,307,000 after buying an additional 146 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $767,000. Finally, ORG Partners LLC boosted its stake in Blackstone by 2,079.0% in the 4th quarter. ORG Partners LLC now owns 1,351 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 1,289 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 2.7 %

Shares of NYSE BX traded up $3.44 during trading on Tuesday, reaching $132.72. The company had a trading volume of 645,806 shares, compared to its average volume of 3,521,860. The company’s fifty day moving average price is $128.32 and its 200-day moving average price is $126.16. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16. The stock has a market cap of $94.85 billion, a P/E ratio of 45.72, a PEG ratio of 1.17 and a beta of 1.50. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, research analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is currently 115.90%.

Analyst Ratings Changes

BX has been the subject of several analyst reports. Argus lifted their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen lifted their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Piper Sandler boosted their price target on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Bank of America boosted their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.56.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Company 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.