Bfsg LLC Has $88,000 Holdings in Blackstone Inc. (NYSE:BX)

Bfsg LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 576 shares of the asset manager’s stock after selling 75 shares during the quarter. Bfsg LLC’s holdings in Blackstone were worth $88,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BX. Chilton Capital Management LLC acquired a new stake in Blackstone in the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the second quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the second quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone during the third quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone during the second quarter valued at about $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock opened at $172.35 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94. The stock has a market cap of $123.17 billion, a PE ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. The firm has a 50 day simple moving average of $147.01 and a two-hundred day simple moving average of $133.22.

Blackstone (NYSE:BX) last released its quarterly earnings results 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the firm earned $0.93 EPS. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. Blackstone’s dividend payout ratio is 115.90%.

Insider Activity

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on 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 directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $152.41.

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.