Comprehensive Money Management Services LLC Sells 535 Shares of Blackstone Inc. $BX

Comprehensive Money Management Services LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,505 shares of the asset manager’s stock after selling 535 shares during the period. Blackstone makes up about 1.1% of Comprehensive Money Management Services LLC’s portfolio, making the stock its 20th biggest position. Comprehensive Money Management Services LLC’s holdings in Blackstone were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mattern Wealth Management LLC grew its position in Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after acquiring an additional 60 shares during the last quarter. Sage Rhino Capital LLC grew its position in Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after acquiring an additional 63 shares during the last quarter. Jeppson Wealth Management LLC grew its position in Blackstone by 1.0% during the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after acquiring an additional 66 shares during the last quarter. McAdam LLC grew its position in Blackstone by 4.4% during the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after acquiring an additional 75 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its position in Blackstone by 0.6% during the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 4.2%

Shares of Blackstone stock opened at $153.88 on Friday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The stock’s 50-day moving average is $172.53 and its 200 day moving average is $154.17. The firm has a market cap of $113.42 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.31 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $2.49 billion for the quarter. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a dividend of $1.03 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays reduced their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Piper Sandler cut their target price on Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group cut their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Bank of America cut their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Insider Activity

In other Blackstone news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the acquisition, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

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.