Blackstone Inc. (NYSE:BX) Stock Position Trimmed by United Services Automobile Association

United Services Automobile Association reduced its holdings in Blackstone Inc. (NYSE:BX) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,309 shares of the asset manager’s stock after selling 874 shares during the quarter. United Services Automobile Association’s holdings in Blackstone were worth $2,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BX. Chilton Capital Management LLC bought a new position in Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone in the 2nd quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone during the second quarter valued at $27,000. Bank & Trust Co purchased a new position in Blackstone in the 2nd quarter worth about $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Blackstone in the 2nd quarter valued at approximately $31,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.9 %

Shares of NYSE BX opened at $139.77 on Tuesday. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $145.16. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $134.57 and a two-hundred day moving average of $127.78. The company has a market cap of $100.65 billion, a PE ratio of 49.39, a P/E/G ratio of 1.18 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. As a group, equities analysts expect that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.35%. Blackstone’s dividend payout ratio is presently 115.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. 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. TD Cowen boosted their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $128.94.

Insider Buying and Selling

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