Avory & Company LLC Sells 2,767 Shares of Blackstone Inc. (NYSE:BX)

Avory & Company LLC decreased its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 24.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,650 shares of the asset manager’s stock after selling 2,767 shares during the quarter. Blackstone makes up 0.8% of Avory & Company LLC’s portfolio, making the stock its 13th largest position. Avory & Company LLC’s holdings in Blackstone were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Fairfield Bush & CO. raised its holdings in shares of Blackstone by 56.1% in the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 1,530 shares in the last quarter. United Bank raised its stake in shares of Blackstone by 34.2% during the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after acquiring an additional 2,153 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Blackstone by 10.4% during the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock worth $1,392,000 after acquiring an additional 1,034 shares in the last quarter. Insight Advisors LLC PA grew its position in Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock worth $2,341,000 after purchasing an additional 286 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Blackstone by 12.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after acquiring an additional 4,366 shares during the last quarter. Institutional investors own 63.35% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, CAO David Payne sold 5,500 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $128.21, for a total transaction of $705,155.00. Following the sale, the chief accounting officer now directly owns 47,781 shares in the company, valued at approximately $6,126,002.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BX. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Barclays upped their price objective on shares of Blackstone from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. TD Cowen initiated coverage on shares of Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $117.81.

Get Our Latest Research Report on BX

Blackstone Stock Down 3.3 %

Shares of NYSE BX traded down $4.05 during midday trading on Monday, hitting $120.31. The company’s stock had a trading volume of 758,747 shares, compared to its average volume of 3,620,510. The business’s fifty day simple moving average is $121.65 and its two-hundred day simple moving average is $109.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.84. Blackstone Inc. has a 1 year low of $76.19 and a 1 year high of $133.53. The firm has a market capitalization of $85.49 billion, a price-to-earnings ratio of 67.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same quarter last year, the company earned $1.07 earnings per share. On average, equities analysts predict that Blackstone Inc. will post 4.95 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Monday, February 5th will be given a dividend of $0.94 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

About Blackstone

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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