Blackstone Inc. $BX Shares Sold by DE Burlo Group Inc.

DE Burlo Group Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 58.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,950 shares of the asset manager’s stock after selling 33,500 shares during the period. DE Burlo Group Inc.’s holdings in Blackstone were worth $3,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Redwood Financial Network Corp increased its position in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its stake in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after purchasing an additional 69 shares during the last quarter. MidWestOne Financial Group Inc. grew its holdings in shares of Blackstone by 0.8% during the third quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock worth $1,424,000 after buying an additional 70 shares in the last quarter. Parcion Private Wealth LLC lifted its stake in shares of Blackstone by 0.6% in the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after buying an additional 70 shares in the last quarter. Finally, Trivium Point Advisory LLC grew its stake in Blackstone by 2.6% during the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the acquisition, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. This trade represents a 18.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider directly owned 25,832 shares of the company’s stock, valued at $90,670.32. This represents a 99.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have bought 12,355,303 shares of company stock valued at $264,789,896. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BX shares. BMO Capital Markets raised their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Rothschild & Co Redburn reduced their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. The Goldman Sachs Group dropped their target price on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Argus lowered their price target on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada began coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Blackstone Price Performance

Blackstone stock opened at $122.63 on Friday. The company’s 50 day simple moving average is $119.98 and its 200-day simple moving average is $131.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a market capitalization of $91.10 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.59.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Blackstone 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.