RFG Advisory LLC Has $922,000 Stock Position in Blackstone Inc. (NYSE:BX)

RFG Advisory LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 26.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,447 shares of the asset manager’s stock after selling 2,729 shares during the period. RFG Advisory LLC’s holdings in Blackstone were worth $922,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Verum Partners LLC increased its position in Blackstone by 5.1% in the second quarter. Verum Partners LLC now owns 3,045 shares of the asset manager’s stock worth $377,000 after buying an additional 148 shares during the last quarter. Czech National Bank increased its position in Blackstone by 7.6% in the second quarter. Czech National Bank now owns 136,183 shares of the asset manager’s stock worth $16,859,000 after buying an additional 9,612 shares during the last quarter. Mirador Capital Partners LP increased its position in Blackstone by 6.2% in the second quarter. Mirador Capital Partners LP now owns 92,942 shares of the asset manager’s stock worth $11,506,000 after buying an additional 5,399 shares during the last quarter. Seneca House Advisors boosted its holdings in shares of Blackstone by 1.2% in the second quarter. Seneca House Advisors now owns 60,546 shares of the asset manager’s stock worth $7,496,000 after acquiring an additional 742 shares during the period. Finally, Blue Zone Wealth Advisors LLC boosted its holdings in shares of Blackstone by 15.6% in the second quarter. Blue Zone Wealth Advisors LLC now owns 35,559 shares of the asset manager’s stock worth $4,402,000 after acquiring an additional 4,794 shares during the period. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BX shares. Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Argus upped their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Piper Sandler upped their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Morgan Stanley upped their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.56.

Blackstone Stock Performance

Shares of NYSE BX traded down $1.65 during midday trading on Monday, reaching $129.28. 3,016,307 shares of the stock were exchanged, compared to its average volume of 3,539,990. The firm has a market cap of $92.39 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $145.16. The firm has a 50-day simple moving average of $128.11 and a two-hundred day simple moving average of $126.12. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business earned $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.54%. Blackstone’s dividend payout ratio is presently 115.90%.

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.