Blackstone Inc. (NYSE:BX) Shares Sold by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC decreased its position in Blackstone Inc. (NYSE:BX) by 1.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,942 shares of the asset manager’s stock after selling 129 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Blackstone were worth $1,809,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BX. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in Blackstone in the 4th quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Blackstone during the 4th quarter worth approximately $34,000. Finally, Roxbury Financial LLC acquired a new position in shares of Blackstone during the fourth quarter valued at approximately $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

NYSE:BX opened at $138.45 on Monday. The company has a market capitalization of $101.02 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The stock’s fifty day moving average is $135.83 and its two-hundred day moving average is $158.84.

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

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Analysts Set New Price Targets

Several research firms recently commented on BX. TD Cowen reduced their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Cowen restated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Bank of America decreased their target price on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company upped their price target on Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $155.65.

Insider Transactions at Blackstone

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now owns 1,666,667 shares of the company’s stock, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.