Blackstone Inc. $BX Shares Sold by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,850 shares of the asset manager’s stock after selling 26,183 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Blackstone were worth $14,586,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. Strive Asset Management LLC purchased a new stake in Blackstone during the 3rd quarter worth approximately $30,000. Family CFO Inc acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Blackstone in the fourth quarter valued at $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone during the 4th quarter worth $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director owned 41,818 shares in the company, valued at $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 10,252,345 shares of company stock worth $209,789,893. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9%

Blackstone stock opened at $132.42 on Tuesday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $98.37 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.41 and a beta of 1.58. The firm has a 50-day moving average price of $120.64 and a two-hundred day moving average price of $124.36.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 annualized dividend and a yield of 3.9%. Blackstone’s payout ratio is presently 103.80%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BX. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. The Goldman Sachs Group lifted their target price on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a research note on Monday, June 8th. They set a “buy” rating on the stock. Piper Sandler increased their target price on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Rothschild & Co Redburn decreased their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.76.

Blackstone 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.