CMH Wealth Management LLC Has $4.24 Million Position in Blackstone Inc. $BX

CMH Wealth Management LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,032 shares of the asset manager’s stock after selling 3,925 shares during the period. CMH Wealth Management LLC’s holdings in Blackstone were worth $4,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new position in Blackstone in the 2nd quarter valued at about $6,112,162,000. Bank of America Corp DE purchased a new stake in shares of Blackstone in the second quarter worth approximately $1,364,373,000. Norges Bank bought a new stake in Blackstone during the fourth quarter worth $1,275,747,000. Legal & General Group Plc bought a new position in Blackstone during the 2nd quarter valued at $605,267,000. Finally, Bank of New York Mellon Corp purchased a new position in Blackstone during the 2nd quarter worth $514,736,000. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. BNP Paribas Exane dropped their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Citizens Jmp decreased their price objective on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Barclays upped their target price on Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Sanford C. Bernstein started coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded Blackstone to a “hold” rating in a research note on Monday, July 20th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average cost of $26.14 per share, for a total transaction of $7,126,861.88. Following the purchase, the insider owned 8,704,419 shares of the company’s stock, valued at $227,533,512.66. This represents a 3.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat acquired 371 shares of Blackstone stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $137.17 per share, with a total value of $50,890.07. Following the completion of the purchase, the director directly owned 42,189 shares in the company, valued at $5,787,065.13. This represents a 0.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 1,611,822 shares of company stock valued at $42,189,294 and sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 0.7%

Shares of BX stock opened at $143.32 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a market cap of $107.58 billion, a P/E ratio of 32.06, a PEG ratio of 1.55 and a beta of 1.55. The company has a 50 day moving average of $131.06 and a 200-day moving average of $122.93. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s payout ratio is 115.44%.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.