Revolve Wealth Partners LLC Sells 1,148 Shares of Blackstone Inc. $BX

Revolve Wealth Partners LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,068 shares of the asset manager’s stock after selling 1,148 shares during the period. Revolve Wealth Partners LLC’s holdings in Blackstone were worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. Kingstone Capital Partners Texas LLC lifted its stake in Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after acquiring an additional 70,118,948 shares during the period. Vanguard Group Inc. increased its holdings in Blackstone by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after buying an additional 1,102,949 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Blackstone by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock valued at $599,872,000 after buying an additional 182,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Blackstone by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after buying an additional 117,724 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In related news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of Blackstone stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the purchase, the insider owned 4,178,771 shares in the company, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The shares were acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BX shares. TD Cowen decreased their price objective on Blackstone from $215.00 to $208.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays lowered their target price on Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. BNP Paribas Exane upped their target price on Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Finally, BMO Capital Markets assumed coverage on Blackstone in a research note on Friday, October 3rd. They issued an “outperform” rating and a $190.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average price target of $179.06.

Blackstone Stock Performance

Shares of Blackstone stock opened at $158.13 on Tuesday. The business’s 50 day moving average price is $172.29 and its 200 day moving average price is $154.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $116.56 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 1.25 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $2.49 billion during the quarter. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a $1.03 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.6%. Blackstone’s payout ratio 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.