Glass Jacobson Investment Advisors llc Sells 277 Shares of Blackstone Inc. $BX

Glass Jacobson Investment Advisors llc lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,981 shares of the asset manager’s stock after selling 277 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Blackstone were worth $446,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Moment Partners LLC acquired a new position in shares of Blackstone during the 2nd quarter worth about $216,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Blackstone by 3.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,684,829 shares of the asset manager’s stock valued at $252,017,000 after buying an additional 53,049 shares in the last quarter. Moloney Securities Asset Management LLC grew its stake in Blackstone by 4.4% in the second quarter. Moloney Securities Asset Management LLC now owns 3,714 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 158 shares during the period. R Squared Ltd bought a new stake in shares of Blackstone during the second quarter worth $427,000. Finally, AlTi Global Inc. raised its position in Blackstone by 14.1% in the 2nd quarter. AlTi Global Inc. now owns 3,542 shares of the asset manager’s stock valued at $533,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a report on Friday. Barclays decreased their target price on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group cut their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Citigroup decreased their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.84.

Insider Activity at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was bought 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 of the company’s stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $154.55 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $113.92 billion, a P/E ratio of 44.16, a P/E/G ratio of 1.26 and a beta of 1.77. The company’s 50-day moving average price is $170.20 and its two-hundred day moving average price is $155.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

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 net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion during the quarter. On average, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.3%. Blackstone’s payout ratio is presently 117.71%.

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.