MGO One Seven LLC Sells 1,398 Shares of Blackstone Inc. (NYSE:BX)

by · The Cerbat Gem

MGO One Seven LLC trimmed its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,983 shares of the asset manager’s stock after selling 1,398 shares during the period. MGO One Seven LLC’s holdings in Blackstone were worth $3,492,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BX. Torray Investment Partners LLC boosted its holdings in shares of Blackstone by 44.5% during the 1st quarter. Torray Investment Partners LLC now owns 33,697 shares of the asset manager’s stock worth $4,710,000 after buying an additional 10,376 shares during the period. Hoxton Planning & Management LLC bought a new stake in shares of Blackstone during the 1st quarter worth $222,000. Davis R M Inc. boosted its holdings in shares of Blackstone by 9.9% during the 1st quarter. Davis R M Inc. now owns 7,024 shares of the asset manager’s stock worth $982,000 after buying an additional 631 shares during the period. Natixis Advisors LLC boosted its holdings in Blackstone by 1.4% in the 1st quarter. Natixis Advisors LLC now owns 457,297 shares of the asset manager’s stock valued at $63,921,000 after purchasing an additional 6,160 shares during the period. Finally, SlateStone Wealth LLC boosted its holdings in Blackstone by 2.3% in the 1st quarter. SlateStone Wealth LLC now owns 4,438 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 100 shares during the period. 70.00% of the stock is owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 237 shares of the stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the transaction, the director directly owned 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider owned 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 1.4%

BX opened at $172.94 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a 50-day moving average price of $151.86 and a two-hundred day moving average price of $150.84. The stock has a market capitalization of $126.19 billion, a PE ratio of 46.49, a PEG ratio of 1.43 and a beta of 1.65. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Blackstone’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be issued a $1.03 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 4th. Blackstone’s dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BX. Piper Sandler increased their price target on shares of Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 25th. JMP Securities increased their price target on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Bank of America reduced their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Finally, Cowen reaffirmed a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $170.12.

View Our Latest Research Report on Blackstone

Blackstone Company Profile

(Free Report)

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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