Blackstone Inc. (NYSE:BX) Shares Sold by Intrepid Financial Planning Group LLC

Intrepid Financial Planning Group LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 3.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,473 shares of the asset manager’s stock after selling 645 shares during the period. Blackstone accounts for about 1.1% of Intrepid Financial Planning Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Intrepid Financial Planning Group LLC’s holdings in Blackstone were worth $2,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Blackstone by 8.0% during the 1st quarter. Russell Investments Group Ltd. now owns 218,645 shares of the asset manager’s stock valued at $28,709,000 after buying an additional 16,170 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Blackstone by 6.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 35,096 shares of the asset manager’s stock worth $4,611,000 after purchasing an additional 2,042 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Blackstone by 1.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 157,920 shares of the asset manager’s stock worth $20,746,000 after buying an additional 2,320 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Blackstone by 5.4% during the first quarter. ProShare Advisors LLC now owns 154,632 shares of the asset manager’s stock valued at $20,314,000 after acquiring an additional 7,915 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Blackstone by 12.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 10,658 shares of the asset manager’s stock valued at $1,400,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s 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 sale, the director now 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 position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BX. Wells Fargo & Company raised their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday. Thirteen 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, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Price Performance

BX stock opened at $183.16 on Tuesday. Blackstone Inc. has a one year low of $96.93 and a one year high of $183.96. The firm has a 50-day moving average of $157.93 and a two-hundred day moving average of $138.60. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $132.24 billion, a PE ratio of 62.94, a P/E/G ratio of 1.52 and a beta of 1.49.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.