Angeles Investment Advisors LLC Sells 1,740 Shares of Blackstone Inc. (NYSE:BX)

Angeles Investment Advisors LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX) by 38.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,728 shares of the asset manager’s stock after selling 1,740 shares during the period. Angeles Investment Advisors LLC’s holdings in Blackstone were worth $418,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter valued at $27,000. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter worth $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the second quarter valued at about $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Blackstone during the second quarter worth about $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX traded up $1.50 during mid-day trading on Wednesday, reaching $182.16. The company’s stock had a trading volume of 136,522 shares, compared to its average volume of 3,412,400. The stock has a fifty day moving average of $158.78 and a two-hundred day moving average of $139.01. The firm has a market capitalization of $131.52 billion, a PE ratio of 62.12, a P/E/G ratio of 1.57 and a beta of 1.49. Blackstone Inc. has a 52 week low of $100.78 and a 52 week high of $183.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.89%. Blackstone’s dividend payout ratio is presently 118.21%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Evercore ISI lifted their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. TD Cowen increased their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $157.63.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.