Boltwood Capital Management Has $920,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Boltwood Capital Management cut its holdings in Blackstone Inc. (NYSE:BX) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,006 shares of the asset manager’s stock after selling 270 shares during the period. Boltwood Capital Management’s holdings in Blackstone were worth $920,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Moseley Investment Management Inc. boosted its holdings in Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after acquiring an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. boosted its position in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after acquiring an additional 80 shares during the period. Signaturefd LLC boosted its holdings in Blackstone by 0.6% in the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 80 shares during the period. WR Wealth Planners LLC raised its position in shares of Blackstone by 23.7% during the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after buying an additional 84 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. grew its position in Blackstone by 1.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after buying an additional 84 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Up 0.2 %

NYSE BX opened at $152.21 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $108.78 billion, a P/E ratio of 53.78, a P/E/G ratio of 1.34 and a beta of 1.51. The stock’s 50-day moving average is $142.21 and its 200-day moving average is $131.01. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25.

Blackstone (NYSE:BX) last released its 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company posted $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. Sell-side analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is presently 115.90%.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America boosted their price objective on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company began coverage on shares of Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 target price on the stock. Barclays lifted their price objective on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $130.78.

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.