Advisors Asset Management Inc. Sells 558 Shares of Blackstone Inc. $BX

Advisors Asset Management Inc. trimmed its holdings in Blackstone Inc. (NYSE:BX) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,265 shares of the asset manager’s stock after selling 558 shares during the period. Advisors Asset Management Inc.’s holdings in Blackstone were worth $9,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Verity & Verity LLC boosted its holdings in shares of Blackstone by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 12,085 shares of the asset manager’s stock worth $1,808,000 after buying an additional 374 shares during the last quarter. Resolute Wealth Strategies LLC lifted its stake in Blackstone by 0.4% during the second quarter. Resolute Wealth Strategies LLC now owns 27,192 shares of the asset manager’s stock worth $4,067,000 after purchasing an additional 98 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of Blackstone by 14,853.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 115,890 shares of the asset manager’s stock valued at $17,335,000 after purchasing an additional 115,115 shares during the last quarter. RiverFront Investment Group LLC lifted its holdings in shares of Blackstone by 17.1% in the 2nd quarter. RiverFront Investment Group LLC now owns 8,788 shares of the asset manager’s stock worth $1,315,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Blackstone by 0.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 85,845 shares of the asset manager’s stock valued at $12,841,000 after acquiring an additional 579 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock 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 lowered their price target 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. HSBC cut their price objective on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Activity

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of Blackstone stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $25.96 per share, with a total value of $9,999,999.68. Following the purchase, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,950,751 shares of company stock worth $79,050,138 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.4%

NYSE BX opened at $143.46 on Wednesday. The company has a fifty day moving average of $157.57 and a 200 day moving average of $158.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $194.23. The company has a market capitalization of $105.94 billion, a PE ratio of 40.99, a P/E/G ratio of 1.18 and a beta of 1.76.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a $1.29 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s dividend payout ratio is currently 147.43%.

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.