Blackstone Inc. $BX Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 43.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,425 shares of the asset manager’s stock after selling 5,747 shares during the quarter. Segment Wealth Management LLC’s holdings in Blackstone were worth $1,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Perigon Wealth Management LLC raised its holdings in shares of Blackstone by 3.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after purchasing an additional 1,949 shares in the last quarter. Vanguard Group Inc. increased its holdings in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares during the last quarter. Redmond Asset Management LLC raised its stake in Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after buying an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in shares of Blackstone during the 2nd quarter worth about $273,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at about $423,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the purchase, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 797,148 shares of company stock valued at $24,050,153. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Bank of America lowered their target price on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Barclays lifted their price target on shares of Blackstone from $165.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Piper Sandler decreased their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, BNP Paribas Exane cut their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.95.

Blackstone Trading Down 0.2%

Shares of Blackstone stock opened at $155.05 on Tuesday. The company’s fifty day moving average is $148.93 and its two-hundred day moving average is $159.93. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $114.50 billion, a P/E ratio of 44.30, a PEG ratio of 1.32 and a beta of 1.76.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s dividend payout ratio is 147.43%.

Blackstone Company Profile

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.