Wealth Alliance Has $328,000 Stake in Blackstone Inc. (NYSE:BX)

Wealth Alliance lessened its position in Blackstone Inc. (NYSE:BX) by 30.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,506 shares of the asset manager’s stock after selling 1,087 shares during the period. Wealth Alliance’s holdings in Blackstone were worth $328,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fairfield Bush & CO. boosted 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 worth $540,000 after acquiring an additional 1,530 shares in the last quarter. United Bank grew its holdings in shares of Blackstone by 34.2% during the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 2,153 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 1,034 shares during the last quarter. Insight Advisors LLC PA lifted 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 buying an additional 286 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in 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 in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 2.4 %

NYSE:BX opened at $120.28 on Friday. The stock has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 0.99 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $126.66 and a two-hundred day moving average price of $117.66. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities analysts expect that Blackstone Inc. will post 4.88 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.76%. Blackstone’s dividend payout ratio is 205.46%.

Insider Transactions at Blackstone

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BX. BMO Capital Markets raised their price target 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. Piper Sandler dropped their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.97.

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.