Blackstone Inc. (NYSE:BX) Stake Decreased by Seneca House Advisors

Seneca House Advisors decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 9.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,988 shares of the asset manager’s stock after selling 5,558 shares during the quarter. Blackstone accounts for about 3.5% of Seneca House Advisors’ investment portfolio, making the stock its 10th biggest position. Seneca House Advisors’ holdings in Blackstone were worth $8,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Public Employees Retirement Association of Colorado boosted its position in Blackstone by 1,466.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 106,425 shares of the asset manager’s stock valued at $13,933,000 after acquiring an additional 99,631 shares in the last quarter. Exencial Wealth Advisors LLC raised its stake in shares of Blackstone by 5.8% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,510 shares of the asset manager’s stock worth $460,000 after acquiring an additional 193 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Blackstone by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 635,026 shares of the asset manager’s stock valued at $83,138,000 after acquiring an additional 14,435 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Blackstone by 110.2% in the 4th quarter. Morningstar Investment Services LLC now owns 6,062 shares of the asset manager’s stock worth $807,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its holdings in Blackstone by 4.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 7,662 shares of the asset manager’s stock worth $1,003,000 after acquiring an additional 322 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BX shares. TD Cowen upped their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Barclays raised their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Bank of America lifted their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $131.17.

Blackstone Trading Up 0.5 %

Shares of BX traded up $0.72 during mid-day trading 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 firm has a market cap of $108.57 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 1.34 and a beta of 1.51. 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 business’s fifty day moving average is $142.63 and its 200 day moving average is $131.34. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25.

Blackstone (NYSE:BX) last released 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $0.93 earnings per share. Blackstone’s revenue was up 166.9% on a year-over-year basis. On average, sell-side analysts predict that Blackstone Inc. will post 4.57 EPS 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 paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is currently 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.