Blackstone Inc. $BX Shares Sold by Revolve Wealth Partners LLC

by · The Cerbat Gem

Revolve Wealth Partners LLC cut its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 15.9% in the 2nd quarter, Holdings Channel reports. The firm owned 6,068 shares of the asset manager’s stock after selling 1,148 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Blackstone were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. 1248 Management LLC bought a new stake in Blackstone during the first quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new stake in Blackstone during the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC purchased a new position in shares of Blackstone during the 1st quarter valued at $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone in the first quarter valued at about $28,000. Finally, Family CFO Inc purchased a new position in Blackstone in the second quarter valued at about $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Barclays decreased their price objective on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Bank of America dropped their price target on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Citigroup decreased their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, BMO Capital Markets assumed coverage on shares of Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.06.

Get Our Latest Research Report on BX

Blackstone Stock Performance

Shares of BX opened at $158.13 on Tuesday. The firm has a 50-day moving average of $172.29 and a 200-day moving average of $154.42. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a market cap of $116.56 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $2.49 billion during the quarter. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is currently 110.75%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).