Blackstone Inc. (NYSE:BX) Shares Sold by JRM Investment Counsel LLC

JRM Investment Counsel LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,221 shares of the asset manager’s stock after selling 7,225 shares during the quarter. Blackstone comprises approximately 2.1% of JRM Investment Counsel LLC’s investment portfolio, making the stock its 11th largest holding. JRM Investment Counsel LLC’s holdings in Blackstone were worth $6,073,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in Blackstone in the fourth quarter valued at approximately $765,000. Geller Advisors LLC raised its holdings in shares of Blackstone by 56.3% during the fourth quarter. Geller Advisors LLC now owns 2,161 shares of the asset manager’s stock worth $373,000 after purchasing an additional 778 shares during the last quarter. Global Assets Advisory LLC boosted its holdings in Blackstone by 1.9% in the fourth quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager’s stock valued at $697,000 after purchasing an additional 75 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Blackstone by 6.1% during the 4th quarter. Gotham Asset Management LLC now owns 20,641 shares of the asset manager’s stock valued at $3,559,000 after buying an additional 1,183 shares during the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of Blackstone by 101.6% in the 4th quarter. Ellevest Inc. now owns 11,263 shares of the asset manager’s stock valued at $1,942,000 after buying an additional 5,676 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders bought a total of 1,660,538 shares of company stock worth $24,981,930 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. 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 report on Tuesday, April 8th. Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Cowen restated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. TD Cowen dropped their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $154.82.

Blackstone Stock Down 0.3 %

Shares of BX opened at $139.41 on Friday. 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 has a fifty day simple moving average of $136.87 and a two-hundred day simple moving average of $162.24. The company has a market capitalization of $101.72 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, equities analysts forecast 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 2.67%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

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.