Wedmont Private Capital Has $1.09 Million Stake in Blackstone Inc. (NYSE:BX)

Wedmont Private Capital lifted its holdings in Blackstone Inc. (NYSE:BX) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,324 shares of the asset manager’s stock after purchasing an additional 1,377 shares during the quarter. Wedmont Private Capital’s holdings in Blackstone were worth $1,092,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Moseley Investment Management Inc. lifted its position in Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after acquiring an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings 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 in the last quarter. Signaturefd LLC grew its holdings in shares of 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 in the last quarter. WR Wealth Planners LLC lifted its stake 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 acquiring an additional 84 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. grew its stake 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 in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

BX opened at $149.07 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $106.53 billion, a PE ratio of 52.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The business has a fifty day simple moving average of $143.08 and a 200 day simple moving average of $131.81. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $161.25.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders 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 annualized dividend and a yield of 2.20%. Blackstone’s dividend payout ratio is presently 115.90%.

Analyst Ratings Changes

Several brokerages have issued reports on BX. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday. Barclays increased their price target on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America lifted their price objective on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $135.00.

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.