Jaffetilchin Investment Partners LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Jaffetilchin Investment Partners LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,589 shares of the asset manager's stock after selling 6,184 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Blackstone were worth $3,577,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone during the fourth quarter valued at about $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $34,000. Garde Capital Inc. purchased a new position in Blackstone in the first quarter valued at about $36,000. Finally, WFA Asset Management Corp purchased a new stake in Blackstone during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. JMP Securities restated a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Morgan Stanley lowered their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $155.65.

Blackstone Price Performance

NYSE BX opened at $148.15 on Friday. The company has a 50-day moving average price of $138.24 and a two-hundred day moving average price of $152.90. The stock has a market cap of $108.10 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same period in the previous year, the firm earned $0.98 EPS. Analysts forecast 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 dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.51%. Blackstone's dividend payout ratio (DPR) is 112.05%.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the business'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 value of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 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. Company 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.

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