OneDigital Investment Advisors LLC Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

OneDigital Investment Advisors LLC lowered its position in Blackstone Inc. (NYSE:BX - Free Report) by 49.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,098 shares of the asset manager's stock after selling 16,958 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Blackstone were worth $2,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new position in Blackstone during the 4th quarter worth about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone in the 4th quarter valued at about $34,000. Putney Financial Group LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $34,000. Garde Capital Inc. bought a new stake in shares of Blackstone in the 1st quarter valued at about $36,000. Finally, WFA Asset Management Corp bought a new stake in shares of Blackstone in the 1st quarter valued at about $38,000. 70.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 237 shares of the stock in a transaction on Monday, May 5th. The shares were bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director directly owned 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of NYSE BX traded down $2.08 during midday trading on Monday, reaching $153.05. 4,112,668 shares of the stock were exchanged, compared to its average volume of 3,858,905. The firm has a market cap of $111.67 billion, a price-to-earnings ratio of 46.10, a PEG ratio of 1.43 and a beta of 1.65. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The firm has a 50-day simple moving average of $141.20 and a two-hundred day simple moving average of $151.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (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 company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business posted $0.98 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.43%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. Citigroup lowered their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Piper Sandler increased their price objective on shares of Blackstone from $140.00 to $157.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Bank of America decreased their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $156.65.

About Blackstone

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.