Blackstone Inc. $BX Shares Sold by Dover Advisors LLC

Dover Advisors LLC decreased its position in Blackstone Inc. (NYSE:BX) by 5.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,188 shares of the asset manager’s stock after selling 200 shares during the period. Dover Advisors LLC’s holdings in Blackstone were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BX. 1248 Management LLC acquired a new position in Blackstone in the 1st quarter valued at about $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Blackstone during the 1st quarter worth about $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone during the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the 1st quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Blackstone in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $181.44 on Monday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market capitalization of $133.74 billion, a PE ratio of 48.77, a PEG ratio of 1.47 and a beta of 1.77. The business’s 50 day moving average is $170.04 and its 200-day moving average is $150.49. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. Blackstone’s dividend payout ratio is presently 110.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays increased their price target on Blackstone from $168.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Citigroup reiterated a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Wells Fargo & Company increased their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Finally, JMP Securities raised their price target on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $172.38.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David Payne sold 9,400 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $169.97, for a total value of $1,597,718.00. Following the completion of the transaction, the chief accounting officer directly owned 54,488 shares of the company’s stock, valued at approximately $9,261,325.36. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,871,634 shares valued at $135,328,376. Company insiders own 1.00% of the company’s stock.

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.