Tyler Stone Wealth Management Has $6.88 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Key Points

• Tyler Stone Wealth Management reduced its holdings in Blackstone Inc. by 2.9%, now owning 49,182 shares worth approximately $6.88 million.
• Insider trading activity included significant sales, with CAO David Payne selling 9,400 shares and Director Joseph Baratta selling 100,000 shares, reflecting substantial decreases in their ownership stakes.
• Blackstone recently increased its quarterly dividend from $0.93 to $1.03, representing an annualized yield of 2.4% despite a high payout ratio of 110.75%.

Tyler Stone Wealth Management cut its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,182 shares of the asset manager's stock after selling 1,470 shares during the period. Blackstone makes up 1.2% of Tyler Stone Wealth Management's holdings, making the stock its 17th biggest holding. Tyler Stone Wealth Management's holdings in Blackstone were worth $6,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. von Borstel & Associates Inc. bought a new stake in Blackstone during the first quarter worth $28,000. Putney Financial Group LLC bought a new stake in shares of Blackstone during the 4th quarter worth $34,000. Bernard Wealth Management Corp. bought a new position in Blackstone during the fourth quarter valued at about $34,000. Vision Financial Markets LLC purchased a new stake in Blackstone during the first quarter worth about $35,000. Finally, Garde Capital Inc. purchased a new position in Blackstone in the first quarter valued at about $36,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO David Payne sold 9,400 shares of Blackstone stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $169.97, for a total value of $1,597,718.00. Following the transaction, the chief accounting officer owned 54,488 shares in the company, valued at approximately $9,261,325.36. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $167.36, for a total value of $16,736,000.00. Following the completion of the transaction, the director directly owned 808,757 shares in the company, valued at $135,353,571.52. This trade represents a 11.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,189,806 shares of company stock valued at $30,046,627 and sold 16,850,134 shares valued at $131,641,986. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Evercore ISI upped their price objective on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their price target on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a report on Tuesday. Finally, Barclays boosted their price target on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $170.12.

Blackstone Stock Performance

Blackstone stock opened at $171.61 on Friday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm's fifty day moving average price is $159.05 and its 200-day moving average price is $150.12. The stock has a market cap of $126.49 billion, a P/E ratio of 46.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.74.

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 (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The company's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a $1.03 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's payout ratio is presently 110.75%.

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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