Blackstone Inc. $BX Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,577 shares of the asset manager’s stock after selling 494 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Blackstone were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its stake in shares of Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after buying an additional 1,949 shares in the last quarter. Redmond Asset Management LLC boosted its position in shares of Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after purchasing an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone in the second quarter valued at about $273,000. Bourgeon Capital Management LLC purchased a new position in Blackstone in the second quarter valued at about $423,000. Finally, Sandy Cove Advisors LLC boosted its stake in shares of Blackstone by 22.1% during the 2nd 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 in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the acquisition, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The shares were acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,565,543 shares of company stock valued at $69,050,139 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $141.46 on Friday. The business has a fifty day simple moving average of $163.12 and a 200-day simple moving average of $157.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a market cap of $104.46 billion, a P/E ratio of 40.42, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is currently 147.43%.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. BMO Capital Markets reduced their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Jefferies Financial Group cut their price target on Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Piper Sandler dropped their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Barclays lowered their price target on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Finally, The Goldman Sachs Group lifted their price objective on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

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.