Blackstone Inc. $BX Shares Sold by IFC Advisors LLC

IFC Advisors LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,792 shares of the asset manager’s stock after selling 128 shares during the period. IFC Advisors LLC’s holdings in Blackstone were worth $2,512,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund increased its holdings in shares of Blackstone by 105.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Blackstone in the 2nd quarter valued at about $273,000. Sandy Cove Advisors LLC increased its holdings in shares of Blackstone by 22.1% in the 2nd quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after acquiring an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at about $423,000. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Blackstone by 14.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after purchasing an additional 1,863 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft decreased their target price on Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. The Goldman Sachs Group raised their price target on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. BMO Capital Markets initiated coverage on Blackstone in a report on Friday, October 3rd. They issued an “outperform” rating and a $190.00 price target for the company. TD Cowen reduced their price objective on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Barclays reduced their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.06.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of Blackstone stock in a transaction on Friday, July 18th. The shares were bought at an average price of $25.22 per share, for a total transaction of $29,999,997.04. Following the purchase, the insider owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $158.13 on Tuesday. The company has a market cap of $116.56 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.25 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The business has a fifty day simple moving average of $172.29 and a 200-day simple moving average of $154.42.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $2.49 billion during the quarter. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

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.