Blackstone Inc. $BX Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Blackstone Inc. by 47%, selling 19,326 shares and now holding 21,763 shares valued at approximately $3.28 million.
• Major shareholders of Blackstone have made significant purchases recently, including 1,189,532 shares by Holdings I. L.P. Blackstone and 2,538,071 shares by Private Multi-Asset Blackstone, indicating a bullish outlook on the company's future.
• Blackstone has been rated with a consensus rating of "Moderate Buy" and has seen target prices from analysts range from $166.00 to $215.00, reflecting varied opinions on its market performance.

Atria Wealth Solutions Inc. decreased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 47.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,763 shares of the asset manager's stock after selling 19,326 shares during the period. Atria Wealth Solutions Inc.'s holdings in Blackstone were worth $3,282,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mattern Wealth Management LLC boosted its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager's stock valued at $331,000 after purchasing an additional 60 shares in the last quarter. Sage Rhino Capital LLC boosted its position in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager's stock valued at $1,202,000 after purchasing an additional 63 shares in the last quarter. Jeppson Wealth Management LLC boosted its position in shares of Blackstone by 1.0% during the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager's stock valued at $980,000 after purchasing an additional 66 shares in the last quarter. McAdam LLC boosted its holdings in shares of Blackstone by 4.4% in the first quarter. McAdam LLC now owns 1,762 shares of the asset manager's stock worth $246,000 after buying an additional 75 shares during the period. Finally, Angeles Wealth Management LLC boosted its holdings in shares of Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock worth $1,652,000 after buying an additional 76 shares during the period. Institutional investors own 70.00% of the company's stock.

Insider Activity

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the transaction, the insider owned 4,178,771 shares in the company, valued at $105,388,604.62. The trade was a 39.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company's stock, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. BNP Paribas Exane raised their target price on shares of Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a report on Monday, September 29th. JMP Securities raised their target price on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a report on Friday, July 25th. TD Cowen decreased their target price on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a report on Wednesday, October 8th. Bank of America decreased their target price on shares of Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Finally, Evercore ISI increased their price target on shares of Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and an average target price of $180.33.

Blackstone Price Performance

NYSE BX opened at $164.04 on Wednesday. The firm has a market capitalization of $120.91 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 1.29 and a beta of 1.77. The company has a 50 day simple moving average of $172.22 and a 200-day simple moving average of $154.49. 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 Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm 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 of this dividend was Monday, August 4th. This is a boost from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.5%. Blackstone's payout ratio is 110.75%.

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.

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:BX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.