Amalgamated Bank Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Amalgamated Bank lowered its position in Blackstone Inc. (NYSE:BXFree Report) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,655 shares of the asset manager’s stock after selling 238 shares during the quarter. Amalgamated Bank’s holdings in Blackstone were worth $19,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE boosted its holdings in Blackstone by 36.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock valued at $4,741,000 after acquiring an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Blackstone by 8.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after acquiring an additional 28,856 shares during the last quarter. TD Asset Management Inc boosted its holdings in Blackstone by 8.9% in the fourth quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock valued at $33,267,000 after acquiring an additional 20,830 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred 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 $56,567,311.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 in the company, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BX. Bank of America boosted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays boosted their price objective on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Finally, Morgan Stanley lifted their target price on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $130.78.

Check Out Our Latest Research Report on BX

Blackstone Stock Performance

Shares of NYSE BX opened at $155.07 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $137.73 and a 200-day simple moving average of $128.72. The company has a market cap of $110.82 billion, a PE ratio of 54.80, a P/E/G ratio of 1.23 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $156.46.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) 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 return on equity of 17.43% and a net margin of 19.35%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

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

About Blackstone

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.