Blackstone Inc. (NYSE:BX) Position Reduced by Triumph Capital Management

Triumph Capital Management trimmed its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,076 shares of the asset manager's stock after selling 2,134 shares during the quarter. Triumph Capital Management's holdings in Blackstone were worth $1,048,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone during the 4th quarter worth $33,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

BX has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Bank of America lowered their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of "Hold" and an average price target of $154.82.

Blackstone Trading Down 4.6%

BX traded down $6.67 during midday trading on Wednesday, hitting $137.53. The company's stock had a trading volume of 4,586,627 shares, compared to its average volume of 3,781,263. The firm has a market cap of $100.35 billion, a P/E ratio of 37.89, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. 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 firm has a 50-day moving average price of $137.50 and a two-hundred day moving average price of $161.16.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the business earned $0.98 EPS. On average, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued 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 dividend yield of 2.70%. Blackstone's dividend payout ratio (DPR) is 112.05%.

Insider Transactions at Blackstone

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

Blackstone 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.