BOS Asset Management LLC Sells 499 Shares of Blackstone Inc. (NYSE:BX)

BOS Asset Management LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,180 shares of the asset manager’s stock after selling 499 shares during the period. BOS Asset Management LLC’s holdings in Blackstone were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Morse Asset Management Inc grew its position in Blackstone by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock valued at $1,720,000 after purchasing an additional 80 shares during the period. McIlrath & Eck LLC increased its position in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares in the last quarter. Virtu Financial LLC bought a new position in Blackstone in the 3rd quarter valued at about $5,163,000. Stock Yards Bank & Trust Co. increased its holdings in Blackstone by 2.5% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager’s stock worth $3,961,000 after purchasing an additional 624 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in Blackstone by 1.8% during the third quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager’s stock worth $10,646,000 after buying an additional 1,238 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, 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 issued reports on BX. JMP Securities upgraded shares of Blackstone from a “market perform” rating to a “market outperform” rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, Barclays decreased their target price on Blackstone from $186.00 to $129.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $155.72.

Blackstone Price Performance

Shares of NYSE:BX opened at $130.26 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $95.01 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a 50 day moving average of $145.13 and a 200 day moving average of $164.76.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.86%. Blackstone’s payout ratio is presently 158.68%.

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.