Insigneo Advisory Services LLC Decreases Holdings in Blackstone Inc. (NYSE:BX)

Insigneo Advisory Services LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,193 shares of the asset manager's stock after selling 4,270 shares during the period. Insigneo Advisory Services LLC's holdings in Blackstone were worth $4,640,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Blackstone by 22.2% in the fourth quarter. Van ECK Associates Corp now owns 24,563 shares of the asset manager's stock worth $4,235,000 after buying an additional 4,469 shares during the last quarter. Everhart Financial Group Inc. purchased a new stake in shares of Blackstone during the fourth quarter valued at $268,000. Principal Securities Inc. lifted its position in Blackstone by 6.9% during the 4th quarter. Principal Securities Inc. now owns 18,036 shares of the asset manager's stock worth $3,110,000 after acquiring an additional 1,171 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Blackstone by 34.6% in the fourth quarter. Allworth Financial LP now owns 36,461 shares of the asset manager's stock valued at $6,664,000 after purchasing an additional 9,375 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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 note on Friday, April 4th. TD Cowen lowered their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reduced 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. Citigroup dropped their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler lowered their price objective on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $155.65.

Insider Activity

In other news, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction on Monday, May 5th. The shares were bought at an average cost 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Blackstone Price Performance

NYSE:BX opened at $138.06 on Tuesday. The firm has a market cap of $100.73 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The stock has a 50 day moving average of $136.88 and a two-hundred day moving average of $155.02. Blackstone Inc. has a 12 month low of $115.66 and a 12 month 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.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the previous year, the business posted $0.98 EPS. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share 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 $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

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.

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