Blackstone Inc. (NYSE:BX) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 5.0% in the second quarter, HoldingsChannel.com reports. The firm owned 1,989 shares of the asset manager’s stock after selling 105 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Blackstone were worth $246,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wulff Hansen & CO. lifted its position in shares of Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after buying an additional 7,281,128 shares in the last quarter. Capital World Investors grew its position in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Lone Pine Capital LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $290,514,000. Lazard Asset Management LLC increased its stake in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after buying an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BX. Wells Fargo & Company assumed coverage on Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective for the company. TD Cowen boosted their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. 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 objective for the company. Bank of America upped their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $130.78.

Blackstone Stock Up 0.3 %

NYSE:BX opened at $157.61 on Wednesday. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average is $140.49 and its two-hundred day moving average is $129.86. The stock has a market capitalization of $112.64 billion, a price-to-earnings ratio of 55.69, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.08%. Blackstone’s payout ratio is 115.90%.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.