Blackstone Inc. $BX Shares Sold by Oxbow Advisors LLC

Oxbow Advisors LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 29.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,061 shares of the asset manager’s stock after selling 6,956 shares during the quarter. Oxbow Advisors LLC’s holdings in Blackstone were worth $1,962,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter valued at about $30,000. Family CFO Inc acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new stake in shares of Blackstone during the fourth quarter worth approximately $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone during the third quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp lowered their target price on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Royal Bank Of Canada assumed coverage on Blackstone in a research report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets increased their target price on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.36.

Blackstone Price Performance

BX stock opened at $122.73 on Friday. The company has a market cap of $91.17 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.33 and a beta of 1.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $119.67 and a 200-day moving average of $128.02. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is presently 118.67%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. The trade was a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.