Blackstone Inc. $BX is Account Management LLC’s 2nd Largest Position

Account Management LLC cut its stake in Blackstone Inc. (NYSE:BX) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,031 shares of the asset manager’s stock after selling 3,000 shares during the quarter. Blackstone comprises approximately 12.0% of Account Management LLC’s holdings, making the stock its 2nd largest holding. Account Management LLC’s holdings in Blackstone were worth $10,924,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Beaumont Asset Management L.L.C. lifted its position in Blackstone by 9.6% in the second quarter. Beaumont Asset Management L.L.C. now owns 7,336 shares of the asset manager’s stock worth $1,097,000 after buying an additional 642 shares during the last quarter. Cohen Investment Advisors LLC lifted its position in Blackstone by 3.8% in the second quarter. Cohen Investment Advisors LLC now owns 29,092 shares of the asset manager’s stock worth $4,352,000 after buying an additional 1,072 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in Blackstone by 5.4% in the second quarter. Maryland State Retirement & Pension System now owns 35,575 shares of the asset manager’s stock worth $5,321,000 after buying an additional 1,835 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Blackstone by 24.5% during the second quarter. Clear Creek Financial Management LLC now owns 6,573 shares of the asset manager’s stock worth $983,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Narwhal Capital Management grew its holdings in shares of Blackstone by 8.3% in the second quarter. Narwhal Capital Management now owns 69,983 shares of the asset manager’s stock worth $10,468,000 after purchasing an additional 5,369 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 1.5%

Blackstone stock opened at $162.48 on Thursday. The business has a fifty day moving average price of $173.11 and a 200-day moving average price of $154.09. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock has a market capitalization of $119.76 billion, a price-to-earnings ratio of 43.68, a PEG ratio of 1.34 and a beta of 1.77. 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 (NYSE:BX) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s revenue was up 32.7% compared to the same quarter last year. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Bank of America dropped their price target on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday. Finally, TD Cowen reduced their price target on shares of Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Insider Transactions at Blackstone

In related news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is 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.