OneDigital Investment Advisors LLC Trims Position in Blackstone Inc. (NYSE:BX)

OneDigital Investment Advisors LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,056 shares of the asset manager’s stock after selling 943 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Blackstone were worth $5,872,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BX. Avidian Wealth Enterprises LLC boosted its position in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares during the period. McIlrath & Eck LLC lifted its holdings in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Blackstone by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after purchasing an additional 62 shares during the last quarter. McAdam LLC increased its holdings in Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Blackstone by 0.6% during the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after buying an additional 63 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley reduced their target price on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.11.

Blackstone Price Performance

Shares of BX opened at $120.22 on Tuesday. The stock’s fifty day moving average is $144.31 and its 200-day moving average is $164.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market capitalization of $87.69 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last released its earnings results 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). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Insider Activity at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

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.