OneAscent Financial Services LLC Sells 212 Shares of Blackstone Inc. (NYSE:BX)

OneAscent Financial Services LLC trimmed its holdings in Blackstone Inc. (NYSE:BX) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,813 shares of the asset manager’s stock after selling 212 shares during the period. OneAscent Financial Services LLC’s holdings in Blackstone were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC lifted its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares during the last quarter. Fidelis Capital Partners LLC grew its position in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after purchasing an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Blackstone by 1.1% in the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock valued at $879,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.0 %

Shares of BX opened at $184.87 on Wednesday. The stock has a fifty day moving average price of $163.11 and a two-hundred day moving average price of $141.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $133.48 billion, a price-to-earnings ratio of 63.53, a PEG ratio of 1.54 and a beta of 1.49. Blackstone Inc. has a 52-week low of $104.39 and a 52-week high of $186.32.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion during 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%. Analysts predict that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.86%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $157.63.

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.