Blackstone Inc. (NYSE:BX) Position Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,002 shares of the asset manager’s stock after selling 87 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Blackstone were worth $2,297,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC bought a new position in Blackstone during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the second quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the second quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the second quarter valued at approximately $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 2.7 %

NYSE:BX opened at $153.04 on Friday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a market cap of $109.37 billion, a PE ratio of 54.08, a PEG ratio of 1.24 and a beta of 1.51. The stock has a 50-day simple moving average of $143.72 and a 200 day simple moving average of $132.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. On average, sell-side analysts expect that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the firm’s 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the firm’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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. 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 company insiders.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. 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. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, 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 note on Friday, July 19th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $135.00.

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.