Blackstone Inc. $BX Shares Sold by Lionshead Wealth Management LLC

Lionshead Wealth Management LLC lessened its position in shares of Blackstone Inc. (NYSE:BX) by 19.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,420 shares of the asset manager’s stock after selling 577 shares during the period. Lionshead Wealth Management LLC’s holdings in Blackstone were worth $362,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. 1248 Management LLC purchased a new position in Blackstone in the first quarter valued at $25,000. Traub Capital Management LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new stake in Blackstone during the first quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone in the first quarter valued at approximately $28,000. Finally, Family CFO Inc acquired a new stake in Blackstone during the second quarter worth approximately $28,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 1.5%

Blackstone stock opened at $138.64 on Thursday. The stock has a market capitalization of $102.38 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 1.18 and a beta of 1.76. 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 50 day moving average of $160.90 and a two-hundred day moving average of $157.84. 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 results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business 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%. As a group, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Insider Transactions at Blackstone

In other Blackstone news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 2,565,543 shares of company stock valued at $69,050,139 over the last 90 days. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen dropped their target price on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Bank of America cut their target price on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Morgan Stanley upped their target price on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods cut their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

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.