Blackstone Inc. (NYSE:BX) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,468 shares of the asset manager’s stock after selling 355 shares during the period. Angeles Investment Advisors LLC’s holdings in Blackstone were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in Blackstone during the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the 2nd quarter worth $27,000. Bank & Trust Co acquired a new position in Blackstone during the second quarter worth $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 3.2 %

Shares of BX opened at $151.19 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.87 billion, a P/E ratio of 53.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The company’s 50-day moving average price is $136.38 and its 200 day moving average price is $128.34. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $151.87.

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 analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, sell-side analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen boosted their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Blackstone in a research report on Thursday. They issued an “overweight” rating and a $163.00 target price for the company. Finally, Barclays increased their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $130.78.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred 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 directly owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’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 transaction, the insider now 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.

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.