Blackstone Inc. (NYSE:BX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 43.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,522 shares of the asset manager's stock after selling 73,951 shares during the quarter. Cresset Asset Management LLC's holdings in Blackstone were worth $16,297,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone in the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Down 0.3 %

BX traded down $0.40 on Friday, hitting $139.41. 3,113,790 shares of the company were exchanged, compared to its average volume of 3,760,163. 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 company has a market cap of $101.72 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The firm has a 50-day moving average price of $136.87 and a two-hundred day moving average price of $162.27. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.67%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Analysts Set New Price Targets

Several brokerages recently commented on BX. JMP Securities reissued a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Piper Sandler lowered their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, Cowen reiterated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and an average price target of $154.82.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were 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 in the company, valued at approximately $65,819,775.92. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat purchased 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by insiders.

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.