Integrated Advisors Network LLC Has $28.41 Million Holdings in Blackstone Inc. (NYSE:BX)

Integrated Advisors Network LLC trimmed its position in Blackstone Inc. (NYSE:BX - Free Report) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,254 shares of the asset manager's stock after selling 19,585 shares during the quarter. Blackstone accounts for 1.4% of Integrated Advisors Network LLC's holdings, making the stock its 10th biggest holding. Integrated Advisors Network LLC's holdings in Blackstone were worth $28,411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BX. Centricity Wealth Management LLC bought a new position in Blackstone in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the 4th quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. Roxbury Financial LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the fourth quarter worth $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analyst Weigh In

BX has been the topic of a number of research reports. Citigroup reduced their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. JMP Securities reiterated a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their target price on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average target price of $155.65.

Insider Activity

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

Blackstone Stock Down 0.4%

Shares of BX traded down $0.61 during trading hours on Thursday, reaching $140.78. 829,377 shares of the stock traded hands, compared to its average volume of 3,787,991. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a market cap of $102.72 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 1.07 and a beta of 1.65. The stock has a fifty day simple moving average of $135.85 and a 200 day simple moving average of $156.59. 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 issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for 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 period in the previous year, the business posted $0.98 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.64%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

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.