Tritonpoint Wealth LLC Sells 1,261 Shares of Blackstone Inc. $BX

Tritonpoint Wealth LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,287 shares of the asset manager’s stock after selling 1,261 shares during the period. Tritonpoint Wealth LLC’s holdings in Blackstone were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Blackstone in the first quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone in the first quarter worth $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone in the first quarter worth $28,000. Livelsberger Financial Advisory bought a new position in shares of Blackstone in the second quarter worth $30,000. Finally, von Borstel & Associates Inc. purchased a new stake in shares of Blackstone in the first quarter worth $28,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of Blackstone stock in a transaction dated Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of BX opened at $175.40 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $174.09 and its 200-day moving average price is $152.90. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The stock has a market cap of $129.29 billion, a P/E ratio of 47.15, a P/E/G ratio of 1.42 and a beta of 1.77.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

BX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. JMP Securities lifted their price objective on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Finally, Citigroup reiterated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.38.

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.