Ameliora Wealth Management Ltd. Decreases Holdings in Blackstone Inc. $BX

Ameliora Wealth Management Ltd. lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 36.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,310 shares of the asset manager’s stock after selling 1,876 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Blackstone were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Meitav Investment House Ltd. increased its stake in shares of Blackstone by 91.6% in the second quarter. Meitav Investment House Ltd. now owns 242,591 shares of the asset manager’s stock worth $36,297,000 after purchasing an additional 116,000 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in Blackstone by 5.5% in the 2nd quarter. Trueblood Wealth Management LLC now owns 4,204 shares of the asset manager’s stock valued at $629,000 after buying an additional 219 shares in the last quarter. Seamount Financial Group Inc. raised its holdings in Blackstone by 7.0% during the 2nd quarter. Seamount Financial Group Inc. now owns 5,475 shares of the asset manager’s stock valued at $819,000 after acquiring an additional 357 shares during the period. SteelPeak Wealth LLC lifted its position in shares of Blackstone by 1.2% during the second quarter. SteelPeak Wealth LLC now owns 35,406 shares of the asset manager’s stock worth $5,296,000 after acquiring an additional 420 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its stake in shares of Blackstone by 1.7% during the 2nd quarter. Capital Advisors Inc. OK now owns 227,479 shares of the asset manager’s stock valued at $34,026,000 after purchasing an additional 3,888 shares during the period. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets initiated coverage on Blackstone in a research report on Friday. They set an “outperform” rating and a $190.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Saturday, September 27th. Evercore ISI raised their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group boosted their target price on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.53.

Blackstone Price Performance

Shares of NYSE BX opened at $166.73 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company’s 50-day moving average is $173.61 and its 200 day moving average is $153.96. The stock has a market capitalization of $122.90 billion, a P/E ratio of 44.82, a P/E/G ratio of 1.37 and a beta of 1.77.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

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.