Blackstone Inc. (NYSE:BX) Shares Sold by MONECO Advisors LLC

MONECO Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 12.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,663 shares of the asset manager’s stock after selling 778 shares during the period. MONECO Advisors LLC’s holdings in Blackstone were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Bourgeon Capital Management LLC boosted its position in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Blackstone in the 4th quarter worth about $30,000. Exchange Traded Concepts LLC boosted its position in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares in the last quarter. Family CFO Inc purchased a new position in Blackstone in the 3rd quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Blackstone in the 4th quarter valued at about $33,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on BX shares. Argus upped their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets upped their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. TD Cowen dropped their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.65.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. 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 ninety days. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 0.2 %

NYSE BX opened at $116.36 on Wednesday. The stock has a market cap of $83.16 billion, a PE ratio of 41.20, a P/E/G ratio of 1.00 and a beta of 1.51. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The business has a 50 day moving average price of $125.63 and a two-hundred day moving average price of $118.77. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. As a group, sell-side analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is currently 117.31%.

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.