Mosley Wealth Management Cuts Position in Blackstone Inc. (NYSE:BX)

Mosley Wealth Management lessened its holdings in Blackstone Inc. (NYSE:BX) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,385 shares of the asset manager’s stock after selling 155 shares during the period. Mosley Wealth Management’s holdings in Blackstone were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Blackstone during the fourth quarter worth about $708,859,000. Capital World Investors grew its position in Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Blackstone in the fourth quarter valued at $290,514,000. Lazard Asset Management LLC grew its holdings in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after purchasing an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the transaction, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was 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 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on BX shares. Redburn Atlantic began coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Bank of America upped their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. TD Cowen increased their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley boosted their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.94.

Blackstone Stock Performance

NYSE:BX traded down $1.15 during midday trading on Friday, reaching $137.12. 2,577,891 shares of the company traded hands, compared to its average volume of 3,467,962. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $145.16. 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 company has a fifty day moving average price of $134.22 and a 200 day moving average price of $127.67. The firm has a market capitalization of $97.99 billion, a price-to-earnings ratio of 48.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $0.93 EPS. The firm’s revenue was up 166.9% on a year-over-year basis. On average, analysts expect that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

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.