Blackstone Inc. $BX Shares Sold by Texas Yale Capital Corp.

Texas Yale Capital Corp. reduced its position in shares of Blackstone Inc. (NYSE:BX) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,874 shares of the asset manager’s stock after selling 750 shares during the period. Blackstone comprises approximately 0.7% of Texas Yale Capital Corp.’s portfolio, making the stock its 11th largest position. Texas Yale Capital Corp.’s holdings in Blackstone were worth $21,371,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. 1248 Management LLC purchased a new position in Blackstone during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in Blackstone during the 1st quarter worth $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone in the first quarter valued at $28,000. Family CFO Inc acquired a new stake in shares of Blackstone during the second quarter worth about $28,000. Finally, Livelsberger Financial Advisory acquired a new position in Blackstone in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the transaction, the insider owned 453,836 shares in the company, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. BNP Paribas Exane reduced their price objective on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Barclays reduced their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, October 24th. Finally, The Goldman Sachs Group lifted their price target on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.74.

Blackstone Trading Down 0.6%

Shares of NYSE BX opened at $143.50 on Friday. The company has a market cap of $105.77 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The stock’s 50 day simple moving average is $166.31 and its 200 day simple moving average is $156.99. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is 147.43%.

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.