Cwm LLC Acquires 2,031 Shares of Blackstone Inc. (NYSE:BX)

Cwm LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 5.2% during the 3rd quarter, Holdings Channel reports. The firm owned 40,876 shares of the asset manager’s stock after acquiring an additional 2,031 shares during the period. Cwm LLC’s holdings in Blackstone were worth $6,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter valued at about $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter valued at about $29,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BX shares. Wells Fargo & Company lifted their price objective on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $135.00.

Blackstone Stock Performance

NYSE:BX opened at $153.04 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The stock has a market cap of $109.37 billion, a PE ratio of 54.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The firm’s fifty day simple moving average is $143.72 and its 200-day simple moving average is $132.13.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share 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 for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. Analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. Blackstone’s dividend payout ratio is presently 115.90%.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the business’s 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 sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. 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.