Blackstone Inc. (NYSE:BX) Shares Sold by Koa Wealth Management LLC

Koa Wealth Management LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,219 shares of the asset manager’s stock after selling 151 shares during the quarter. Blackstone accounts for about 1.9% of Koa Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Koa Wealth Management LLC’s holdings in Blackstone were worth $2,256,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Northwest Financial Advisors purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Blackstone in the 2nd quarter valued at $26,000. Bank & Trust Co purchased a new position in shares of Blackstone during the second quarter worth about $29,000. Finally, Roble Belko & Company Inc purchased a new position in Blackstone in the 4th quarter valued at $30,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen raised their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Barclays upped their price objective on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Finally, Argus boosted their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $128.65.

Blackstone Stock Up 0.0 %

Shares of BX traded up $0.04 during mid-day trading on Thursday, reaching $134.79. 1,745,092 shares of the stock traded hands, compared to its average volume of 3,495,779. The stock has a fifty day simple moving average of $130.37 and a 200 day simple moving average of $126.61. The firm has a market cap of $96.33 billion, a price-to-earnings ratio of 47.63, a P/E/G ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $145.16. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

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 business had revenue of $3.69 billion for 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 firm’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared 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 was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.43%. Blackstone’s dividend payout ratio is presently 115.90%.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 35,000 shares of the firm’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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.