Catalyst Capital Advisors LLC Cuts Stock Position in Blackstone Inc. $BX

Catalyst Capital Advisors LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 14.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 453 shares of the asset manager’s stock after selling 74 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Blackstone were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arcus Capital Partners LLC grew its holdings in shares of Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after purchasing an additional 58 shares in the last quarter. Mattern Wealth Management LLC grew its holdings in shares of Blackstone by 2.8% in the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 60 shares in the last quarter. Sage Rhino Capital LLC grew its holdings in shares of Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after purchasing an additional 63 shares in the last quarter. Jeppson Wealth Management LLC lifted its position in Blackstone by 1.0% in the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after buying an additional 66 shares during the last quarter. Finally, McAdam LLC lifted its position in Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after buying an additional 75 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was bought at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.3%

NYSE:BX opened at $154.55 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $170.20 and a 200-day simple moving average of $156.02. The company has a market cap of $113.92 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a $1.29 dividend. The ex-dividend date is Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. Blackstone’s dividend payout ratio is presently 117.71%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BX shares. Citigroup lowered their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft set a $166.00 price target on Blackstone and gave the stock a “buy” rating in a research report on Friday. BNP Paribas Exane lowered their price target on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday. Piper Sandler lowered their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.