Blackstone Inc. $BX Shares Sold by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. cut its stake in Blackstone Inc. (NYSE:BX) by 76.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,430 shares of the asset manager’s stock after selling 105,800 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Blackstone were worth $5,712,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BX. REAP Financial Group LLC acquired a new stake in Blackstone in the third quarter valued at $26,000. Traub Capital Management LLC bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Blackstone in the 3rd quarter worth about $30,000. Parvin Asset Management LLC bought a new position in shares of Blackstone in the second quarter worth $35,000. Finally, Rexford Capital Inc. acquired a new position in shares of Blackstone during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of Blackstone stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $26.16 per share, with a total value of $30,000,000.24. Following the purchase, the insider owned 16,716,249 shares of the company’s stock, valued at $437,297,073.84. This trade represents a 7.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.3%

Shares of BX opened at $110.69 on Tuesday. The stock has a market cap of $82.15 billion, a PE ratio of 28.53, a PEG ratio of 0.95 and a beta of 1.80. Blackstone Inc. has a 1 year low of $105.09 and a 1 year high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $138.78 and a 200-day simple moving average of $152.10.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.21. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 earnings per share. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.4%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is currently 153.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BX shares. TD Cowen reduced their price objective on shares of Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Argus decreased their price objective on Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Piper Sandler lowered their target price on Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Jefferies Financial Group cut their target price on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group cut their target price on shares of Blackstone from $166.00 to $158.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $165.86.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.