AE Wealth Management LLC Sells 1,087 Shares of Blackstone Inc. $BX

AE Wealth Management LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 15.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,755 shares of the asset manager’s stock after selling 1,087 shares during the quarter. AE Wealth Management LLC’s holdings in Blackstone were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BX. Brighton Jones LLC boosted its stake in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Blackstone in the 1st quarter valued at $271,000. Massachusetts Financial Services Co. MA grew its stake in shares of Blackstone by 104.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,321 shares of the asset manager’s stock worth $464,000 after purchasing an additional 1,700 shares during the period. Cable Hill Partners LLC increased its holdings in Blackstone by 45.9% in the first quarter. Cable Hill Partners LLC now owns 1,711 shares of the asset manager’s stock valued at $227,000 after purchasing an additional 538 shares during the last quarter. Finally, Welch & Forbes LLC boosted its holdings in Blackstone by 14.6% during the first quarter. Welch & Forbes LLC now owns 14,879 shares of the asset manager’s stock worth $2,080,000 after buying an additional 1,897 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $139.44 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company’s fifty day simple moving average is $163.69 and its 200-day simple moving average is $157.54. The firm has a market cap of $102.97 billion, a PE ratio of 39.84, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion for the quarter. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen cut their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft set a $166.00 price target on shares of Blackstone and gave the stock a “buy” rating in a research report on Friday, October 24th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Citigroup decreased their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, HSBC dropped their price target on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.74.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 2,565,543 shares of company stock valued at $69,050,139. 1.00% of the stock is owned by insiders.

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.