Ameliora Wealth Management Ltd. Sells 150 Shares of Blackstone Inc. (NYSE:BX)

Ameliora Wealth Management Ltd. reduced its position in shares of Blackstone Inc. (NYSE:BX) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,860 shares of the asset manager’s stock after selling 150 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Blackstone were worth $602,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bay Rivers Group increased its holdings in Blackstone by 0.4% during the 1st quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock valued at $2,608,000 after purchasing an additional 84 shares during the period. BSW Wealth Partners grew its position in shares of Blackstone by 1.9% in the 1st quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after buying an additional 84 shares during the last quarter. Mather Group LLC. lifted its stake in Blackstone by 1.2% in the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after acquiring an additional 87 shares during the period. Fragasso Financial Advisors Inc grew its holdings in shares of Blackstone by 2.7% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 3,344 shares of the asset manager’s stock worth $414,000 after acquiring an additional 89 shares during the period. Finally, Fragasso Group Inc. grew its position in shares of Blackstone by 2.9% in the 1st quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after buying an additional 91 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Morgan Stanley raised their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Argus boosted their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. 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. TD Cowen raised their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Piper Sandler upped 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the business’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 value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on 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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock traded up $4.07 during trading hours on Tuesday, hitting $133.35. The company’s stock had a trading volume of 3,203,898 shares, compared to its average volume of 3,538,461. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The business has a 50 day moving average price of $128.60 and a two-hundred day moving average price of $126.23. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $145.16. The company has a market cap of $95.30 billion, a PE ratio of 47.12, a PEG ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business 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 business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. Analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is currently 115.90%.

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.