EP Wealth Advisors LLC Has $1.29 Million Stock Position in Blackstone Inc. (NYSE:BX)

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EP Wealth Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BXGet Rating) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,181 shares of the asset manager’s stock after buying an additional 403 shares during the quarter. EP Wealth Advisors LLC’s holdings in Blackstone were worth $1,292,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Financial Advantage Inc. acquired a new stake in Blackstone in the 1st quarter worth $26,000. Western Pacific Wealth Management LP bought a new position in Blackstone during the fourth quarter valued at about $27,000. Landmark Wealth Management LLC acquired a new position in Blackstone in the 1st quarter valued at approximately $27,000. Providence Capital Advisors LLC lifted its position in shares of Blackstone by 1,137.6% in the 1st quarter. Providence Capital Advisors LLC now owns 2,995 shares of the asset manager’s stock worth $31,000 after acquiring an additional 2,753 shares during the period. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $39,000. 61.87% of the stock is owned by institutional investors.

Blackstone Stock Down 0.7 %

BX stock opened at $94.70 on Friday. The business’s 50 day simple moving average is $99.22 and its 200 day simple moving average is $106.82. Blackstone Inc. has a 1-year low of $86.97 and a 1-year high of $149.78. The firm has a market capitalization of $66.45 billion, a PE ratio of 17.28, a PEG ratio of 1.79 and a beta of 1.45. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47.

Blackstone (NYSE:BXGet Rating) last posted its earnings results on Thursday, July 21st. The asset manager reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.02. Blackstone had a net margin of 22.48% and a return on equity of 20.80%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company posted $0.82 EPS. Blackstone’s quarterly revenue was up 96.1% compared to the same quarter last year. As a group, research analysts anticipate that Blackstone Inc. will post 5.16 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Monday, August 1st were issued a dividend of $1.27 per share. The ex-dividend date was Friday, July 29th. This represents a $5.08 annualized dividend and a yield of 5.36%. Blackstone’s payout ratio is currently 92.70%.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 71,223 shares of Blackstone stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the completion of the sale, the director now owns 1,141,965 shares of the company’s stock, valued at $107,287,611.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 71,223 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the transaction, the director now owns 1,141,965 shares in the company, valued at approximately $107,287,611.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 41,500 shares of Blackstone stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $32.94, for a total transaction of $1,367,010.00. Following the completion of the sale, the insider now owns 898,993 shares of the company’s stock, valued at $29,612,829.42. The disclosure for this sale can be found here. Insiders sold 161,423 shares of company stock worth $9,660,717 in the last ninety days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on BX shares. Keefe, Bruyette & Woods cut Blackstone from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $127.00 to $115.00 in a research report on Wednesday, August 3rd. The Goldman Sachs Group lowered their target price on shares of Blackstone from $136.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. StockNews.com downgraded Blackstone from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Wells Fargo & Company increased their target price on Blackstone to $102.00 in a report on Friday, July 22nd. Finally, Morgan Stanley lowered their price target on Blackstone from $154.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.33.

Blackstone Company Profile

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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.

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