Moors & Cabot Inc. Sells 3,381 Shares of Blackstone Inc. (NYSE:BX)

Moors & Cabot Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,586 shares of the asset manager’s stock after selling 3,381 shares during the period. Moors & Cabot Inc.’s holdings in Blackstone were worth $8,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the second quarter valued at about $26,000. EdgeRock Capital LLC purchased a new position in shares of Blackstone during the second quarter valued at about $27,000. West Financial Advisors LLC purchased a new position in shares of Blackstone during the third quarter valued at about $27,000. Bank & Trust Co purchased a new position in shares of Blackstone during the second quarter valued at about $29,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Blackstone during the second quarter valued at about $31,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BX. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Stock Performance

BX traded down $0.21 during trading on Wednesday, hitting $184.70. The company’s stock had a trading volume of 376,770 shares, compared to its average volume of 3,393,781. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a one year low of $105.47 and a one year high of $187.12. The firm has a market cap of $133.35 billion, a PE ratio of 63.53, a P/E/G ratio of 1.54 and a beta of 1.49. The business’s 50 day simple moving average is $163.11 and its 200-day simple moving average is $141.27.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, sell-side analysts predict that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.