Blackstone Inc. $BX Holdings Cut by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 99.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,641 shares of the asset manager's stock after selling 411,116 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Blackstone were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at approximately $30,000. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter worth approximately $30,000. Family CFO Inc bought a new stake in Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new position in Blackstone in the fourth quarter worth approximately $29,000. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. TD Cowen decreased their price target on shares of Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. UBS Group decreased their price target on shares of Blackstone from $171.00 to $137.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Barclays lowered their price objective on shares of Blackstone from $126.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone from $142.00 to $136.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone has an average rating of "Moderate Buy" and an average price target of $150.86.

Blackstone Stock Up 1.5%

Shares of BX stock opened at $122.63 on Friday. The firm has a fifty day moving average of $119.98 and a 200-day moving average of $131.03. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a market capitalization of $91.10 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 1.31 and a beta of 1.59.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. As a group, equities research analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone's dividend payout ratio (DPR) is currently 118.67%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 355 shares of the business's stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the purchase, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. The trade was a 0.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of Blackstone stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider owned 25,832 shares of the company's stock, valued at $90,670.32. This trade represents a 99.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 12,355,303 shares of company stock valued at $264,789,896. 1.00% of the stock is owned by company insiders.

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.

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