Stablepoint Partners LLC Reduces Stock Position in Blackstone Inc. (NYSE:BX)

Stablepoint Partners LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 3.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,609 shares of the asset manager’s stock after selling 1,511 shares during the quarter. Blackstone comprises 1.0% of Stablepoint Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Stablepoint Partners LLC’s holdings in Blackstone were worth $5,759,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of Blackstone during the fourth quarter worth about $109,000. EP Wealth Advisors LLC lifted its stake in Blackstone by 4.1% in the fourth quarter. EP Wealth Advisors LLC now owns 21,398 shares of the asset manager’s stock valued at $2,801,000 after buying an additional 843 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Blackstone by 10.6% in the 4th quarter. Greenwood Capital Associates LLC now owns 11,102 shares of the asset manager’s stock valued at $1,453,000 after acquiring an additional 1,060 shares during the period. Fisher Asset Management LLC grew its position in Blackstone by 10.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the last quarter. Finally, Leo Wealth LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $755,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of NYSE BX traded up $1.67 on Monday, hitting $154.71. The company’s stock had a trading volume of 186,431 shares, compared to its average volume of 3,402,231. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day moving average of $143.72 and a 200-day moving average of $132.14. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. As a group, research analysts predict that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.12%. Blackstone’s payout ratio is 115.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BX shares. Bank of America boosted their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. The Goldman Sachs Group upped their price target on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.18.

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.