Baldwin Investment Management LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Baldwin Investment Management LLC cut its position in Blackstone Inc. (NYSE:BX) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,922 shares of the asset manager’s stock after selling 195 shares during the quarter. Baldwin Investment Management LLC’s holdings in Blackstone were worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in BX. Sather Financial Group Inc increased its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $201,000. Wealth Enhancement Advisory Services LLC lifted its stake in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Aljian Capital Management LLC bought a new position in shares of Blackstone during the third quarter valued at about $1,951,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Evercore ISI boosted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Stock Down 0.8 %

NYSE:BX opened at $191.64 on Wednesday. The firm has a 50-day simple moving average of $167.36 and a two-hundred day simple moving average of $143.76. The firm has a market cap of $138.36 billion, a P/E ratio of 65.86, a P/E/G ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a fifty-two week low of $105.51 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings data 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 business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Analysts predict that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.80%. Blackstone’s payout ratio is 118.21%.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.