DoubleLine ETF Adviser LP Has $1.47 Million Stake in Blackstone Inc. (NYSE:BX)

DoubleLine ETF Adviser LP lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,867 shares of the asset manager’s stock after selling 288 shares during the period. DoubleLine ETF Adviser LP’s holdings in Blackstone were worth $1,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moseley Investment Management Inc. boosted its stake in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares during the period. Signaturefd LLC raised its holdings in shares of Blackstone by 0.6% during the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during the period. WR Wealth Planners LLC raised its stake in shares of Blackstone by 23.7% in the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 84 shares during the period. Finally, Beaumont Asset Management L.L.C. grew its holdings in shares of Blackstone by 1.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America upped their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company began coverage on shares of Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price target on the stock. Piper Sandler increased their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Barclays upped their target price on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $130.78.

Blackstone Stock Down 3.0 %

Blackstone stock opened at $152.77 on Thursday. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25. The stock has a market cap of $110.01 billion, a P/E ratio of 53.98, a P/E/G ratio of 1.34 and a beta of 1.51. The company’s 50-day moving average price is $140.49 and its two-hundred day moving average price is $129.86. 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 released its quarterly earnings results 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, analysts expect that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

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.