Blackstone Inc. (NYSE:BX) Stock Position Lessened by ACT Wealth Management LLC

ACT Wealth Management LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 37.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,080 shares of the asset manager’s stock after selling 1,265 shares during the period. Blackstone accounts for 0.1% of ACT Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. ACT Wealth Management LLC’s holdings in Blackstone were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of BX. Mirador Capital Partners LP lifted its stake in Blackstone by 2.2% in the 3rd quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock worth $9,390,000 after acquiring an additional 1,862 shares in the last quarter. WASHINGTON TRUST Co raised its stake in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock worth $13,002,000 after purchasing an additional 7,907 shares in the last quarter. Kampmann Melissa S. bought a new position in shares of Blackstone in the 3rd quarter valued at approximately $2,314,000. The Manufacturers Life Insurance Company grew its holdings in Blackstone by 1,722.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after buying an additional 476,768 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in Blackstone by 536.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock valued at $1,726,000 after buying an additional 11,110 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BX shares. UBS Group raised their target price on Blackstone from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods raised their target price on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Wednesday, December 20th. Citigroup cut Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, TheStreet cut Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $119.53.

Blackstone Price Performance

Blackstone stock opened at $130.89 on Thursday. Blackstone Inc. has a 12 month low of $79.29 and a 12 month high of $133.56. The stock’s 50 day moving average is $125.32 and its 200-day moving average is $115.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $93.54 billion, a price-to-earnings ratio of 71.56, a PEG ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter in the prior year, the business posted $1.07 earnings per share. Equities research analysts expect that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were paid a $0.94 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.87%. Blackstone’s dividend payout ratio (DPR) is presently 205.46%.

Insider Activity

In related news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

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.