Blackstone Inc. $BX Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,015 shares of the asset manager’s stock after selling 4,181 shares during the quarter. Blackstone comprises approximately 2.6% of Burling Wealth Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Burling Wealth Partners LLC’s holdings in Blackstone were worth $15,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Blackstone by 1.9% in the third quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after acquiring an additional 1,335,060 shares during the period. Geode Capital Management LLC lifted its stake in Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after buying an additional 227,416 shares in the last quarter. Norges Bank bought a new stake in shares of Blackstone during the second quarter worth $1,071,348,000. Legal & General Group Plc lifted its position in Blackstone by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock valued at $678,037,000 after acquiring an additional 202,245 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Blackstone by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,200,194 shares of the asset manager’s stock worth $628,265,000 after purchasing an additional 37,327 shares during the period. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the transaction, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.2%

Blackstone stock opened at $133.02 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. The company’s 50-day moving average is $148.74 and its 200-day moving average is $157.14. The firm has a market capitalization of $98.23 billion, a PE ratio of 34.28, a P/E/G ratio of 1.02 and a beta of 1.76. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.Blackstone’s quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the company posted $1.69 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 4.5%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is 153.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BX. The Goldman Sachs Group cut their price target on Blackstone from $166.00 to $158.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Rothschild & Co Redburn cut their price objective on shares of Blackstone from $165.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Argus lowered their price target on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $171.76.

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.