Uhlmann Price Securities LLC Sells 853 Shares of Blackstone Inc. $BX

Uhlmann Price Securities LLC lowered its position in Blackstone Inc. (NYSE:BX) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,403 shares of the asset manager’s stock after selling 853 shares during the quarter. Blackstone accounts for approximately 4.2% of Uhlmann Price Securities LLC’s investment portfolio, making the stock its 3rd largest position. Uhlmann Price Securities LLC’s holdings in Blackstone were worth $5,894,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Illinois Municipal Retirement Fund increased its holdings in Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares during the period. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone in the second quarter valued at about $273,000. Sandy Cove Advisors LLC raised its position in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after acquiring an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in Blackstone in the second quarter valued at approximately $423,000. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after purchasing an additional 1,863 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the firm’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 1.0%

NYSE BX opened at $156.37 on Monday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The business has a 50 day moving average price of $171.66 and a 200-day moving average price of $154.98. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market cap of $115.26 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 1.27 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BX shares. Evercore ISI increased their price objective on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Barclays decreased their price target on Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Bank of America cut their target price on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Finally, Citigroup reduced their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.26.

Blackstone Company 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.