Blackstone Inc. (NYSE:BX) Shares Acquired by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC grew its stake in Blackstone Inc. (NYSE:BX) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,125 shares of the asset manager’s stock after buying an additional 399 shares during the period. Greenwich Wealth Management LLC’s holdings in Blackstone were worth $5,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moseley Investment Management Inc. lifted its stake in shares of Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after buying an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. grew its position in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares during the period. Signaturefd LLC lifted its position in Blackstone by 0.6% during the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after buying an additional 80 shares during the period. WR Wealth Planners LLC grew its holdings in Blackstone by 23.7% in the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after buying an additional 84 shares during the period. Finally, Beaumont Asset Management L.L.C. lifted its holdings in shares of Blackstone by 1.3% during the 2nd quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after acquiring an additional 84 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of BX stock opened at $151.19 on Monday. The firm has a market cap of $108.87 billion, a P/E ratio of 53.42, a P/E/G ratio of 1.23 and a beta of 1.51. The firm has a fifty day moving average of $136.38 and a two-hundred day moving average of $128.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $151.87.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The company’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, research analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.17%. Blackstone’s payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BX shares. Wells Fargo & Company assumed coverage on shares of Blackstone in a research note on Thursday. They set an “overweight” rating and a $163.00 price target on the stock. Piper Sandler increased their target price on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, Barclays raised their price objective on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $130.78.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 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.