Ameliora Wealth Management Ltd. Cuts Stock Holdings in Blackstone Inc. $BX

Ameliora Wealth Management Ltd. reduced its position in Blackstone Inc. (NYSE:BX) by 36.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,310 shares of the asset manager’s stock after selling 1,876 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Blackstone were worth $495,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mattern Wealth Management LLC boosted its stake in shares of Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after buying an additional 60 shares during the period. Sage Rhino Capital LLC grew its holdings in Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after acquiring an additional 63 shares in the last quarter. Jeppson Wealth Management LLC raised its holdings in shares of Blackstone by 1.0% in the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after purchasing an additional 66 shares in the last quarter. McAdam LLC grew its stake in shares of Blackstone by 4.4% during the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after purchasing an additional 75 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in Blackstone by 0.6% during the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after buying an additional 76 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The shares were bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the purchase, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This trade represents a 51.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the transaction, the director owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BX shares. The Goldman Sachs Group upped their price target on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Piper Sandler raised their price objective on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Barclays upped their target price on Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Finally, Citigroup reissued a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.53.

Blackstone Price Performance

Blackstone stock opened at $166.73 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a market cap of $122.90 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. The business has a fifty day moving average of $173.61 and a two-hundred day moving average of $153.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.Blackstone’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is 110.75%.

About Blackstone

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.