Gerber Kawasaki Wealth & Investment Management Has $7.51 Million Stock Position in Blackstone Inc. (NYSE:BX)

Gerber Kawasaki Wealth & Investment Management lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 10.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,473 shares of the asset manager’s stock after selling 9,808 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Blackstone were worth $7,508,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Fairfield Bush & CO. boosted its holdings in shares of Blackstone by 56.1% during the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 1,530 shares in the last quarter. United Bank boosted its position in Blackstone by 34.2% during the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after buying an additional 2,153 shares during the period. Yousif Capital Management LLC grew its position in shares of Blackstone by 10.4% in the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 1,034 shares during the last quarter. Insight Advisors LLC PA increased its position in Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after purchasing an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after buying an additional 4,366 shares during the period. 63.35% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of BX opened at $112.51 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $79.85 billion, a price-to-earnings ratio of 68.19, a price-to-earnings-growth ratio of 1.99 and a beta of 1.49. Blackstone Inc. has a 52-week low of $71.72 and a 52-week high of $114.96. The stock’s 50-day simple moving average is $102.54 and its 200 day simple moving average is $92.23.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Blackstone had a net margin of 17.92% and a return on equity of 16.99%. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $1.49 earnings per share. Blackstone’s revenue was up 347.3% compared to the same quarter last year. Research analysts forecast that Blackstone Inc. will post 4.16 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, July 28th. Blackstone’s payout ratio is 191.52%.

Insider Buying and Selling at Blackstone

In related news, Director William G. Parrett sold 3,874 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $112.47, for a total value of $435,708.78. Following the transaction, the director now directly owns 30,941 shares in the company, valued at $3,479,934.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director William G. Parrett sold 3,874 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $112.47, for a total value of $435,708.78. Following the completion of the transaction, the director now directly owns 30,941 shares in the company, valued at $3,479,934.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Payne sold 10,000 shares of Blackstone stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $103.22, for a total value of $1,032,200.00. Following the sale, the chief accounting officer now directly owns 53,281 shares of the company’s stock, valued at approximately $5,499,664.82. The disclosure for this sale can be found here. Insiders have sold a total of 20,402,086 shares of company stock valued at $224,463,771 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of research analyst reports. StockNews.com began coverage on shares of Blackstone in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Evercore ISI raised their price target on shares of Blackstone from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. Wells Fargo & Company increased their price objective on Blackstone from $104.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. The Goldman Sachs Group upped their price target on Blackstone from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Finally, BMO Capital Markets lifted their target price on shares of Blackstone from $93.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.97.

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.