Neville Rodie & Shaw Inc. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,725 shares of the asset manager’s stock after selling 6,015 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Blackstone were worth $11,029,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Strive Asset Management LLC acquired a new position in shares of Blackstone in the 3rd quarter worth approximately $30,000. Family CFO Inc purchased a new stake in Blackstone in the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone in the fourth quarter valued at $29,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Blackstone in the 3rd quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Blackstone
In other Blackstone news, Director Ruth Porat purchased 355 shares of Blackstone stock in a transaction on Monday, May 11th. The shares were bought at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the acquisition, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 10,825,959 shares of company stock worth $224,789,900. Corporate insiders own 1.00% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Report on BX
Blackstone Price Performance
Shares of NYSE BX opened at $137.17 on Wednesday. The company’s fifty day moving average is $122.37 and its two-hundred day moving average is $123.34. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. The firm has a market capitalization of $101.90 billion, a P/E ratio of 30.69, a PEG ratio of 1.49 and a beta of 1.56. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.
Blackstone (NYSE:BX – Get Free Report) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Analysts forecast that Blackstone Inc. will post 6 EPS for the current fiscal year.
Blackstone Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is 115.44%.
Blackstone Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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