Blackstone Inc. (NYSE:BX) Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT trimmed its holdings in Blackstone Inc. (NYSE:BX) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,493 shares of the asset manager’s stock after selling 1,602 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Blackstone were worth $6,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone during the 2nd quarter worth about $27,000. Bank & Trust Co acquired a new stake in Blackstone during the 2nd quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in Blackstone during the 2nd quarter worth about $31,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BX shares. Morgan Stanley boosted their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Wells Fargo & Company started coverage on Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 target price on the stock. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Bank of America upped their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $130.78.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on 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 sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on 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 sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 0.1 %

Shares of Blackstone stock opened at $154.93 on Thursday. The stock has a market capitalization of $110.72 billion, a P/E ratio of 54.75, a PEG ratio of 1.23 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $138.34 and a two-hundred day moving average price of $128.90. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $157.76.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share 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 business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s revenue was up 166.9% compared to the same quarter last year. Equities analysts expect that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.12%. Blackstone’s dividend payout ratio is 115.90%.

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.