Blackstone Inc. (NYSE:BX) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in shares of Blackstone Inc. (NYSE:BX) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,012 shares of the asset manager’s stock after selling 250 shares during the quarter. Meyer Handelman Co.’s holdings in Blackstone were worth $11,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wulff Hansen & CO. grew its stake in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after acquiring an additional 7,281,128 shares during the period. Capital World Investors raised its position in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares during the last quarter. Lazard Asset Management LLC increased its stake in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after buying an additional 1,873,573 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after acquiring an additional 1,290,324 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Blackstone by 213.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after purchasing an additional 937,084 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

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

Blackstone Price Performance

Blackstone stock opened at $153.05 on Friday. The firm has a market cap of $110.21 billion, a PE ratio of 58.42, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company’s 50 day moving average is $143.72 and its two-hundred day moving average is $132.10. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

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). The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. On average, research analysts expect that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 125.19%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BX. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Barclays lifted their price target on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $135.00.

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.