Blackstone Inc. $BX Shares Sold by NTV Asset Management LLC

NTV Asset Management LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,927 shares of the asset manager’s stock after selling 100 shares during the quarter. NTV Asset Management LLC’s holdings in Blackstone were worth $887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of Blackstone during the first quarter worth about $25,000. von Borstel & Associates Inc. purchased a new position in Blackstone during the first quarter valued at approximately $28,000. Wealth Preservation Advisors LLC purchased a new position in Blackstone during the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone during the first quarter valued at approximately $28,000. Finally, Family CFO Inc purchased a new position in Blackstone during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BX. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Piper Sandler lifted their price target on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Barclays raised their price objective on Blackstone from $168.00 to $181.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Citigroup reissued a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Finally, JMP Securities raised their price objective on Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.00.

Blackstone Stock Performance

Shares of NYSE:BX opened at $168.40 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50 day moving average price is $173.81 and its 200-day moving average price is $153.77. The firm has a market capitalization of $124.12 billion, a PE ratio of 45.27, a P/E/G ratio of 1.35 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a $1.03 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio is presently 110.75%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider directly owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

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.