Blackstone Inc. (NYSE:BX) is Heard Capital LLC’s 4th Largest Position

Heard Capital LLC lessened its holdings in Blackstone Inc. (NYSE:BX) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,275,260 shares of the asset manager’s stock after selling 48,052 shares during the period. Blackstone makes up approximately 9.0% of Heard Capital LLC’s portfolio, making the stock its 4th largest position. Heard Capital LLC’s holdings in Blackstone were worth $118,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Graypoint LLC lifted its position in shares of Blackstone by 0.3% in the 2nd quarter. Graypoint LLC now owns 36,615 shares of the asset manager’s stock worth $3,404,000 after buying an additional 95 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Blackstone by 4.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,247 shares of the asset manager’s stock worth $209,000 after buying an additional 100 shares during the last quarter. Principle Wealth Partners LLC lifted its position in Blackstone by 0.5% in the 2nd quarter. Principle Wealth Partners LLC now owns 19,817 shares of the asset manager’s stock valued at $1,842,000 after purchasing an additional 100 shares during the last quarter. Clarius Group LLC lifted its position in Blackstone by 1.1% in the 2nd quarter. Clarius Group LLC now owns 9,158 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 100 shares during the last quarter. Finally, Means Investment CO. Inc. lifted its position in Blackstone by 0.4% in the 2nd quarter. Means Investment CO. Inc. now owns 25,960 shares of the asset manager’s stock valued at $2,414,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 63.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. BMO Capital Markets cut their price objective on shares of Blackstone from $97.00 to $94.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. The Goldman Sachs Group boosted their price target on shares of Blackstone from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Barclays boosted their price target on shares of Blackstone from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. Morgan Stanley dropped their price target on shares of Blackstone from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, October 20th. Finally, Wells Fargo & Company dropped their price target on shares of Blackstone from $118.00 to $113.00 and set an “overweight” rating on the stock in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.22.

Blackstone Stock Up 0.9 %

NYSE BX traded up $0.90 during trading on Monday, reaching $105.86. The company’s stock had a trading volume of 1,102,697 shares, compared to its average volume of 4,912,706. The business has a 50-day moving average price of $103.32 and a 200-day moving average price of $97.86. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.69. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $116.78. The stock has a market capitalization of $75.22 billion, a PE ratio of 44.10, a PEG ratio of 2.54 and a beta of 1.47.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 19th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). Blackstone had a return on equity of 16.76% and a net margin of 21.29%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the firm posted $1.06 EPS. The company’s revenue was up 140.2% compared to the same quarter last year. On average, research analysts forecast that Blackstone Inc. will post 3.9 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $3.20 dividend on an annualized basis and a yield of 3.02%. This is a positive change from Blackstone’s previous quarterly dividend of $0.79. Blackstone’s payout ratio is 134.45%.

Insider Buying and Selling

In other Blackstone news, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $7.98, for a total value of $117,342,731.94. Following the sale, the insider now owns 43,602 shares of the company’s stock, valued at approximately $347,943.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John G. Finley sold 29,900 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $92.39, for a total transaction of $2,762,461.00. Following the transaction, the insider now owns 424,863 shares in the company, valued at approximately $39,253,092.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 14,704,603 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $7.98, for a total transaction of $117,342,731.94. Following the transaction, the insider now owns 43,602 shares in the company, valued at approximately $347,943.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,812,942 shares of company stock valued at $128,543,218. 1.00% of the stock is owned by company 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.