Blackstone Inc. (NYSE:BX) Shares Sold by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors lessened its position in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,296 shares of the asset manager’s stock after selling 250 shares during the period. TRUE Private Wealth Advisors’ holdings in Blackstone were worth $693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC purchased a new stake in Blackstone in the 2nd quarter valued at $25,000. Bourgeon Capital Management LLC raised its position in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. Family CFO Inc purchased a new stake in Blackstone in the 3rd quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Blackstone during the 4th quarter worth $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX opened at $123.19 on Thursday. The company’s 50 day simple moving average is $126.81 and its 200 day simple moving average is $117.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The stock has a market capitalization of $88.04 billion, a PE ratio of 67.32, a P/E/G ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.16. The business 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 period last year, the company earned $1.07 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 4.88 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. Blackstone’s dividend payout ratio (DPR) is 205.46%.

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ruth Porat purchased 232 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares in the company, valued at $4,349,313. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded 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. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price target for the stock from $116.00 to $124.00 in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $119.97.

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.