Blackstone Inc. (NYSE:BX) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc cut its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 22.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,794 shares of the asset manager's stock after selling 2,900 shares during the period. AdvisorNet Financial Inc's holdings in Blackstone were worth $1,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC grew its position in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after buying an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock worth $1,970,000 after buying an additional 62 shares in the last quarter. McAdam LLC grew its position in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after buying an additional 63 shares in the last quarter. CENTRAL TRUST Co grew its position in Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after buying an additional 63 shares in the last quarter. Finally, Catalina Capital Group LLC grew its position in Blackstone by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager's stock worth $365,000 after buying an additional 65 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target 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. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Citigroup dropped their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays increased their price target on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Finally, Cowen reaffirmed a "buy" rating on shares of Blackstone in a research 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, the stock presently has an average rating of "Hold" and a consensus price target of $155.65.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 237 shares of Blackstone stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director now directly owns 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.21 during mid-day trading on Tuesday, hitting $139.02. The stock had a trading volume of 3,667,046 shares, compared to its average volume of 3,791,150. The company has a 50 day moving average of $135.67 and a two-hundred day moving average of $158.54. The firm has a market cap of $101.43 billion, a PE ratio of 38.30, a PEG ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. 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 posted its earnings results 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 for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the business earned $0.98 earnings per share. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio 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.