Blackstone Inc. $BX Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR reduced its holdings in Blackstone Inc. by 8.3%, owning 22,675 shares worth approximately $3.39 million after selling 2,050 shares in the second quarter.
• Blackstone recently increased its quarterly dividend to $1.03 per share, reflecting a positive change from the previous dividend of $0.93, with a current dividend yield of 2.6%.
• Amid these developments, Blackstone shares saw a decline of 3.6%, with a current trading price around $158.01 and a 52-week high of $200.96.

Generali Asset Management SPA SGR cut its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,675 shares of the asset manager's stock after selling 2,050 shares during the quarter. Generali Asset Management SPA SGR's holdings in Blackstone were worth $3,392,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of BX. Brighton Jones LLC raised its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Blackstone by 5.2% during the 1st quarter. GAMMA Investing LLC now owns 9,462 shares of the asset manager's stock worth $1,323,000 after purchasing an additional 470 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of Blackstone by 14.8% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 5,628 shares of the asset manager's stock worth $787,000 after purchasing an additional 724 shares during the last quarter. CENTRAL TRUST Co raised its position in shares of Blackstone by 1.0% during the 1st quarter. CENTRAL TRUST Co now owns 11,142 shares of the asset manager's stock worth $1,557,000 after purchasing an additional 107 shares during the last quarter. Finally, Essex Savings Bank raised its position in shares of Blackstone by 30.7% during the 1st quarter. Essex Savings Bank now owns 3,124 shares of the asset manager's stock worth $437,000 after purchasing an additional 733 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at $128,015,742.72. The trade was a 6.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the business's stock in a transaction on Monday, September 22nd. The stock was purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 3.6%

Shares of NYSE BX opened at $158.01 on Friday. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The firm has a fifty day moving average of $171.91 and a 200-day moving average of $154.68. The stock has a market capitalization of $116.47 billion, a PE ratio of 42.48, a P/E/G ratio of 1.33 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business 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%. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio (DPR) is presently 110.75%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $160.00 to $177.00 and gave the stock a "neutral" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Blackstone from $194.00 to $188.00 and set a "buy" rating for the company in a research note on Thursday, October 9th. Barclays lowered their target price on shares of Blackstone from $181.00 to $171.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. Jefferies Financial Group lowered their target price on shares of Blackstone from $207.00 to $199.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Finally, BMO Capital Markets initiated coverage on shares of Blackstone in a research note on Friday, October 3rd. They issued an "outperform" rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $180.26.

Blackstone 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.

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