17 Capital Partners LLC Sells 941 Shares of Blackstone Inc. $BX

17 Capital Partners LLC trimmed its stake in Blackstone Inc. (NYSE:BX) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,890 shares of the asset manager’s stock after selling 941 shares during the period. 17 Capital Partners LLC’s holdings in Blackstone were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arcus Capital Partners LLC increased its stake in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after acquiring an additional 58 shares during the last quarter. Mattern Wealth Management LLC increased its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in Blackstone by 3.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock worth $267,000 after buying an additional 61 shares during the last quarter. Sage Rhino Capital LLC grew its position in Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after acquiring an additional 63 shares during the last quarter. Finally, WNY Asset Management LLC lifted its holdings in shares of Blackstone by 1.7% in the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $138.64 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $160.90 and a 200 day moving average of $157.84. The firm has a market capitalization of $102.38 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

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

Blackstone Increases Dividend

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

Insider Activity at Blackstone

In other news, Director James Breyer purchased 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Porat bought 324 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the acquisition, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,565,543 shares of company stock valued at $69,050,139 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Bank of America dropped their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. JPMorgan Chase & Co. lowered their price objective on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Citigroup cut their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, TD Cowen lowered their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a report on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and an average target price of $179.00.

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.