8,993 Blackstone Inc. $BX Shares Sold by Davidson Kahn Capital Management LLC

Davidson Kahn Capital Management LLC decreased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 68.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,061 shares of the asset manager's stock after selling 8,993 shares during the quarter. Davidson Kahn Capital Management LLC's holdings in Blackstone were worth $455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of Blackstone in the second quarter worth about $221,478,000. Manning & Napier Advisors LLC purchased a new stake in Blackstone in the second quarter worth $8,667,000. Sequoia Financial Advisors LLC increased its stake in Blackstone by 5.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 245,370 shares of the asset manager's stock worth $28,873,000 after buying an additional 11,983 shares during the period. Matrix Private Capital Group LLC bought a new stake in Blackstone during the 1st quarter valued at about $1,340,000. Finally, Wedmont Private Capital raised its stake in shares of Blackstone by 82.5% during the third quarter. Wedmont Private Capital now owns 23,206 shares of the asset manager's stock valued at $2,615,000 after acquiring an additional 10,489 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $118.85 on Tuesday. The company has a market cap of $89.21 billion, a PE ratio of 26.41, a P/E/G ratio of 1.46 and a beta of 1.59. The business has a 50-day simple moving average of $125.07 and a 200-day simple moving average of $125.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 0.71. Blackstone Inc. has a one year low of $101.73 and a one year high of $165.14.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. Blackstone's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be given a dividend of $1.12 per share. This is a drop from Blackstone's previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. Blackstone's dividend payout ratio is currently 99.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BX shares. BMO Capital Markets restated an "outperform" rating and issued a $130.00 price target on shares of Blackstone in a report on Wednesday, October 21st. Barclays cut their price objective on shares of Blackstone from $128.00 to $124.00 and set an "equal weight" rating on the stock in a report on Thursday, October 8th. Oppenheimer increased their price target on shares of Blackstone from $164.00 to $168.00 and gave the stock an "outperform" rating in a report on Friday. BNP Paribas Exane decreased their price target on Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Finally, TD Cowen dropped their price target on shares of Blackstone from $154.00 to $144.00 and set a "buy" rating on the stock in a research report on Monday, October 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Blackstone presently has an average rating of "Moderate Buy" and a consensus target price of $144.57.

Insider Activity at Blackstone

In other news, major shareholder Holdings Iv L.P. Blackstone acquired 191,695 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average cost of $26.17 per share, for a total transaction of $5,016,658.15. Following the transaction, the insider directly owned 8,895,478 shares in the company, valued at $232,794,659.26. This trade represents a 2.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the sale, the director owned 771,599 shares in the company, valued at approximately $95,523,956.20. This represents a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 464,792 shares of company stock valued at $12,205,945 and have sold 4,077,276 shares valued at $37,573,644. Company insiders own 1.00% of the company's stock.

Blackstone Profile

Blackstone Inc NYSE: BX is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.

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