Ferguson Wellman Capital Management Inc. Has $413,000 Stock Position in Blackstone Inc. (NYSE:BX)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Blackstone Inc. (NYSE:BX) by 22.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,336 shares of the asset manager’s stock after selling 988 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Blackstone were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bay Rivers Group lifted its position in shares of Blackstone by 0.4% in the first quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock worth $2,608,000 after buying an additional 84 shares during the last quarter. BSW Wealth Partners lifted its position in shares of Blackstone by 1.9% in the first quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after buying an additional 84 shares during the last quarter. Mather Group LLC. lifted its position in shares of Blackstone by 1.2% in the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after buying an additional 87 shares during the last quarter. Fragasso Financial Advisors Inc lifted its position in shares of Blackstone by 2.7% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 3,344 shares of the asset manager’s stock worth $414,000 after purchasing an additional 89 shares during the last quarter. Finally, Fragasso Group Inc. lifted its position in shares of Blackstone by 2.9% during the 1st quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated 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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s 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 transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the business’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 value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 2.2 %

Shares of BX stock traded up $2.89 during trading hours on Wednesday, reaching $136.24. The company had a trading volume of 1,768,230 shares, compared to its average volume of 3,527,115. The company has a 50 day moving average of $128.60 and a 200 day moving average of $126.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79. The firm has a market cap of $97.36 billion, a price-to-earnings ratio of 47.96, a P/E/G ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $145.16.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.41%. Blackstone’s dividend payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BX shares. Piper Sandler boosted their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. TD Cowen boosted their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Argus boosted their price target on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays boosted their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Bank of America boosted their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $127.56.

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.