Roof Eidam Maycock Peralta LLC Decreases Stake in Blackstone Inc. $BX

Roof Eidam Maycock Peralta LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 48.2% in the second quarter, HoldingsChannel reports. The firm owned 2,927 shares of the asset manager’s stock after selling 2,719 shares during the period. Roof Eidam Maycock Peralta LLC’s holdings in Blackstone were worth $438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. 1248 Management LLC purchased a new position in shares of Blackstone during the 1st quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in Blackstone during the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone during the first quarter worth about $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the first quarter worth about $28,000. Finally, Family CFO Inc bought a new position in shares of Blackstone during the second quarter worth about $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 3.6%

Shares of NYSE:BX opened at $158.01 on Friday. The company’s 50-day moving average price is $171.91 and its 200 day moving average price is $154.68. The company has a market cap of $116.47 billion, a PE ratio of 42.48, a P/E/G ratio of 1.33 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The company had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were paid a dividend of $1.03 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is presently 110.75%.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Jefferies Financial Group reduced their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Bank of America reduced their price target on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. JMP Securities raised their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a report on Friday, July 25th. Finally, BMO Capital Markets started coverage on shares of Blackstone in a report on Friday, October 3rd. They issued an “outperform” rating and a $190.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.26.

Blackstone 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.