Annex Advisory Services LLC Sells 22,194 Shares of Blackstone Inc. (NYSE:BX)

Annex Advisory Services LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 76.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,733 shares of the asset manager’s stock after selling 22,194 shares during the period. Annex Advisory Services LLC’s holdings in Blackstone were worth $834,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BX. Congress Wealth Management LLC DE grew its holdings in shares of Blackstone by 36.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock valued at $4,741,000 after purchasing an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Blackstone by 8.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after purchasing an additional 28,856 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in shares of Blackstone by 0.8% during the 1st quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock valued at $2,649,000 after purchasing an additional 169 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Blackstone by 8.9% during the 4th quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock valued at $33,267,000 after purchasing an additional 20,830 shares during the last quarter. Finally, Norden Group LLC grew its holdings in shares of Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after purchasing an additional 34,872 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.2 %

Shares of NYSE BX traded up $0.28 during midday trading on Friday, hitting $130.93. The stock had a trading volume of 1,416,063 shares, compared to its average volume of 3,543,412. The business’s 50 day moving average is $128.11 and its 200-day moving average is $126.03. The company has a market cap of $93.57 billion, a P/E ratio of 46.27, a PEG ratio of 1.17 and a beta of 1.50. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $145.16. 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 earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. As a group, analysts predict that Blackstone Inc. will post 4.58 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed 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 2.51%. Blackstone’s payout ratio is 115.90%.

Analyst Ratings Changes

A number of brokerages have issued reports on BX. UBS Group raised their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Bank of America raised their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Piper Sandler boosted their price target on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $127.56.

Insider Activity

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.