Laird Norton Wetherby Wealth Management LLC Sells 3,052 Shares of Blackstone Inc. (NYSE:BX)

Laird Norton Wetherby Wealth Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,096 shares of the asset manager's stock after selling 3,052 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Blackstone were worth $1,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the fourth quarter worth $33,000. Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BX. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Piper Sandler dropped their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $154.82.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired 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 $6,071,260.65. This represents a 0.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

BX stock traded down $0.07 during trading on Friday, hitting $146.69. 3,788,921 shares of the stock traded hands, compared to its average volume of 3,776,761. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $107.03 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a 50 day simple moving average of $137.08 and a 200 day simple moving average of $161.71.

Blackstone (NYSE:BX - Get Free Report) last posted 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). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the firm posted $0.98 EPS. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Blackstone Company 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.