Segment Wealth Management LLC Decreases Stock Position in Blackstone Inc. $BX

Segment Wealth Management LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 43.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,425 shares of the asset manager’s stock after selling 5,747 shares during the quarter. Segment Wealth Management LLC’s holdings in Blackstone were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its position in Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after purchasing an additional 70,118,948 shares during the period. Norges Bank purchased a new stake in shares of Blackstone in the second quarter worth approximately $1,071,348,000. Vanguard Group Inc. lifted its stake in shares of Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares during the last quarter. Amundi grew its position in Blackstone by 69.3% in the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock valued at $323,000,000 after acquiring an additional 990,947 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Blackstone by 31.9% in the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after purchasing an additional 919,773 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BX shares. JMP Securities restated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Bank of America lowered their price target on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. The Goldman Sachs Group raised their price objective on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Finally, BNP Paribas Exane lowered their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.95.

Blackstone Stock Down 0.2%

Blackstone stock opened at $155.05 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $114.50 billion, a P/E ratio of 44.30, a P/E/G ratio of 1.32 and a beta of 1.76. The business has a fifty day moving average of $148.93 and a two-hundred day moving average of $159.93. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion during the quarter. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is presently 147.43%.

Insider Activity

In other news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the purchase, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. The trade was a 25.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the acquisition, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 797,148 shares of company stock worth $24,050,153 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.