Blackstone Inc. (NYSE:BX) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 3.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 17,733 shares of the asset manager’s stock after selling 634 shares during the period. Stonegate Investment Group LLC’s holdings in Blackstone were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BX. Brighton Jones LLC boosted its holdings in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Blackstone in the fourth quarter valued at $66,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Blackstone by 4.7% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,018 shares of the asset manager’s stock valued at $348,000 after purchasing an additional 90 shares during the last quarter. Wealth Alliance boosted its holdings in Blackstone by 64.7% in the fourth quarter. Wealth Alliance now owns 5,187 shares of the asset manager’s stock valued at $894,000 after purchasing an additional 2,037 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in Blackstone by 12.4% in the fourth quarter. First Bank & Trust now owns 1,690 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 187 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 0.0%

BX stock opened at $137.45 on Friday. The company has a market cap of $100.29 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 1.26 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The firm has a 50-day moving average of $137.23 and a two-hundred day moving average of $154.08.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 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 analyst estimates of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.71%. Blackstone’s payout ratio is 112.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BX shares. Piper Sandler lowered their target price on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. Citigroup lowered their target price on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and set a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on shares of Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $155.65.

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.