Allworth Financial LP Sells 4,749 Shares of Blackstone Inc. (NYSE:BX)

Allworth Financial LP lessened its stake in Blackstone Inc. (NYSE:BX - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,712 shares of the asset manager's stock after selling 4,749 shares during the period. Allworth Financial LP's holdings in Blackstone were worth $4,267,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BX. von Borstel & Associates Inc. acquired a new position in shares of Blackstone in the 1st quarter valued at about $28,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Finally, Garde Capital Inc. acquired a new position in shares of Blackstone in the 1st quarter valued at about $36,000. Institutional investors own 70.00% of the company's stock.

Insider Buying and Selling at Blackstone

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

Blackstone Stock Performance

Shares of BX traded down $1.85 on Friday, reaching $162.21. 3,976,798 shares of the company's stock traded hands, compared to its average volume of 3,887,856. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock has a market cap of $118.36 billion, a PE ratio of 48.86, a PEG ratio of 1.50 and a beta of 1.65. The stock's 50 day simple moving average is $143.68 and its two-hundred day simple moving average is $150.98. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly 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). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the business posted $0.98 earnings per share. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Evercore ISI upped their price target on Blackstone from $152.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Bank of America dropped their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $161.29.

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.