Cullinan Associates Inc. Has $811,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Cullinan Associates Inc. cut its position in Blackstone Inc. (NYSE:BX - Free Report) by 42.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,800 shares of the asset manager's stock after selling 4,300 shares during the quarter. Cullinan Associates Inc.'s holdings in Blackstone were worth $811,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth approximately $66,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Indie Asset Partners LLC purchased a new position in shares of Blackstone during the 4th quarter worth approximately $207,000. Finally, Oxbow Advisors LLC increased its stake in Blackstone by 0.8% in the 4th quarter. Oxbow Advisors LLC now owns 24,736 shares of the asset manager's stock valued at $4,265,000 after purchasing an additional 198 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 0.4%

Shares of NYSE BX traded up $0.61 on Monday, hitting $138.30. The company had a trading volume of 2,925,307 shares, compared to its average volume of 3,804,752. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The business has a 50 day moving average of $137.23 and a two-hundred day moving average of $153.63. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $100.91 billion, a P/E ratio of 41.66, a PEG ratio of 1.26 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter last year, the firm posted $0.98 EPS. As a group, equities research 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. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BX shares. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. TD Cowen dropped their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Barclays raised their price target 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, Piper Sandler dropped their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus target price of $155.65.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the transaction, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of the business's 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 now owns 475,336 shares of the company's stock, valued at $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.