GFG Capital LLC Has $9.41 Million Holdings in Blackstone Inc. (NYSE:BX)

GFG Capital LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,307 shares of the asset manager's stock after selling 15,241 shares during the period. Blackstone comprises 2.7% of GFG Capital LLC's holdings, making the stock its 11th biggest holding. GFG Capital LLC's holdings in Blackstone were worth $9,408,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in Blackstone during the first quarter valued at approximately $28,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone in the fourth quarter worth $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Blackstone in the fourth quarter worth $34,000. Putney Financial Group LLC purchased a new position in shares of Blackstone in the fourth quarter worth $34,000. Finally, Garde Capital Inc. purchased a new position in shares of Blackstone in the first quarter worth $36,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 1.4%

Shares of NYSE:BX traded up $2.13 during midday trading on Wednesday, reaching $158.48. The company had a trading volume of 3,773,339 shares, compared to its average volume of 3,865,609. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. The stock's fifty day moving average price is $142.04 and its 200-day moving average price is $151.07. The stock has a market capitalization of $115.63 billion, a P/E ratio of 47.74, a PEG ratio of 1.41 and a beta of 1.65. Blackstone Inc. has a one year low of $115.66 and a one year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate 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. Equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Morgan Stanley reduced their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price objective on shares of Blackstone from $190.00 to $137.00 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $156.65.

Insider Activity

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider directly owned 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider owned 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

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.