Burns J W & Co. Inc. NY Has $509,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Burns J W & Co. Inc. NY cut its holdings in Blackstone Inc. (NYSE:BX) by 37.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,325 shares of the asset manager’s stock after selling 2,000 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Blackstone were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BX. Chilton Capital Management LLC bought a new stake in Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new stake in Blackstone in the 2nd quarter valued at approximately $27,000. Bank & Trust Co bought a new stake in Blackstone in the 2nd quarter valued at approximately $29,000. Finally, Scarborough Advisors LLC bought a new stake in Blackstone in the 4th quarter valued at approximately $32,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated 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 sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BX shares. The Goldman Sachs Group upped their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley upped their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company started coverage on Blackstone in a research note on Thursday, September 12th. They set an “overweight” rating and a $163.00 price objective on the stock. Bank of America upped their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $131.17.

Blackstone Stock Performance

NYSE BX traded up $0.72 on Friday, reaching $151.92. The stock had a trading volume of 2,073,752 shares, compared to its average volume of 3,449,274. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. The company has a market cap of $108.57 billion, a P/E ratio of 53.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The firm has a fifty day moving average of $142.63 and a two-hundred day moving average of $131.34.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 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 company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is presently 115.90%.

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.