Tealwood Asset Management Inc. Sells 403 Shares of Blackstone Inc. $BX

Tealwood Asset Management Inc. cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,213 shares of the asset manager’s stock after selling 403 shares during the period. Blackstone makes up 1.2% of Tealwood Asset Management Inc.’s holdings, making the stock its 18th biggest holding. Tealwood Asset Management Inc.’s holdings in Blackstone were worth $2,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. Kingstone Capital Partners Texas LLC increased its holdings in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after purchasing an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 1,102,949 shares in the last quarter. Nuveen LLC bought a new stake in shares of Blackstone in the 1st quarter worth $151,524,000. Amundi grew its stake in shares of Blackstone by 69.3% in the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after acquiring an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI upped their target price on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. The Goldman Sachs Group restated a “neutral” rating on shares of Blackstone in a research note on Friday, July 25th. Barclays increased their price target on shares of Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. BNP Paribas Exane increased their target price on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Piper Sandler increased their target price on shares of Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $172.71.

Blackstone Price Performance

Shares of NYSE:BX opened at $175.99 on Tuesday. The company has a 50-day moving average price of $174.28 and a two-hundred day moving average price of $153.26. The firm has a market capitalization of $129.72 billion, a PE ratio of 47.31, a P/E/G ratio of 1.42 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. 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 (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm earned $0.98 EPS. Blackstone’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.3%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is 110.75%.

Insider Buying and Selling

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the purchase, the insider directly owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is owned by insiders.

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.