Koss Olinger Consulting LLC Sells 7,542 Shares of Blackstone Inc. (NYSE:BX)

Koss Olinger Consulting LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 78.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,033 shares of the asset manager’s stock after selling 7,542 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Blackstone were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BX. Northwest Financial Advisors bought a new position in Blackstone in the fourth quarter valued at $25,000. Chilton Capital Management LLC purchased a new position in shares of Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the second quarter valued at approximately $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BX. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Barclays increased their target price on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Piper Sandler boosted their price objective on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen lifted their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $128.94.

Blackstone Stock Performance

Shares of Blackstone stock opened at $137.12 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $134.22 and a two-hundred day simple moving average of $127.69. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16. The firm has a market capitalization of $97.99 billion, a P/E ratio of 48.45, a P/E/G ratio of 1.22 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 EPS. On average, equities analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.39%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

About Blackstone

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.