Blackstone Inc. (NYSE:BX) Shares Sold by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management lowered its position in Blackstone Inc. (NYSE:BX) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,438 shares of the asset manager’s stock after selling 2,897 shares during the period. Blackstone comprises approximately 1.8% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 12th largest position. B & T Capital Management DBA Alpha Capital Management’s holdings in Blackstone were worth $9,561,000 at the end of the most recent quarter.

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

Blackstone Stock Up 1.1 %

Shares of NYSE:BX traded up $1.61 during midday trading on Thursday, hitting $150.03. 641,036 shares of the company’s stock traded hands, compared to its average volume of 3,415,460. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $107.22 billion, a PE ratio of 52.44, a P/E/G ratio of 1.34 and a beta of 1.51. The firm’s fifty day moving average price is $143.08 and its two-hundred day moving average price is $131.81. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. On average, equities research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company 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. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.19%. Blackstone’s dividend payout ratio is currently 115.90%.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now directly 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 Upgrades and Downgrades

A number of research analysts have recently weighed in on BX shares. Wells Fargo & Company raised their price objective on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $133.41.

Blackstone Company 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.