Consolidated Investment Group LLC Sells 2,940 Shares of Blackstone Inc. (NYSE:BX)

Consolidated Investment Group LLC cut its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 83,289 shares of the asset manager's stock after selling 2,940 shares during the quarter. Blackstone accounts for 1.8% of Consolidated Investment Group LLC's portfolio, making the stock its 12th largest position. Consolidated Investment Group LLC's holdings in Blackstone were worth $11,642,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BX. Vanguard Group Inc. grew its holdings in shares of Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after acquiring an additional 444,887 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock worth $1,209,707,000 after acquiring an additional 681,512 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Blackstone by 6.6% in the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after acquiring an additional 371,677 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Blackstone in the 4th quarter worth $974,448,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of the business's stock in a transaction dated 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 now directly owns 475,336 shares of the company's stock, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.0%

Shares of NYSE:BX traded down $0.04 on Friday, reaching $137.45. The company had a trading volume of 4,295,546 shares, compared to its average volume of 3,808,279. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock has a 50-day moving average price of $137.23 and a 200 day moving average price of $153.63. The stock has a market capitalization of $100.29 billion, a P/E ratio of 41.40, a P/E/G ratio of 1.26 and a beta of 1.65. 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 announced 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). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. 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 firm earned $0.98 EPS. On average, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.71%. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Barclays raised their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Finally, Citigroup decreased their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of "Hold" and an average price target of $155.65.

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.