Leo Wealth LLC Lowers Stake in Blackstone Inc. (NYSE:BX)

Leo Wealth LLC reduced its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,576 shares of the asset manager's stock after selling 2,465 shares during the period. Leo Wealth LLC's holdings in Blackstone were worth $640,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BX. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone in the first quarter worth approximately $28,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the 4th quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Putney Financial Group LLC acquired a new position in Blackstone during the fourth quarter worth about $34,000. Finally, Garde Capital Inc. acquired a new stake in Blackstone in the 1st quarter valued at about $36,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BX. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a report on Thursday. Barclays reissued an "equal weight" rating on shares of Blackstone in a report on Thursday. Cowen reiterated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Finally, Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $162.18.

Insider Activity

In other news, Director Ruth Porat bought 237 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, the insider owned 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. Company insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $163.49 on Tuesday. The stock has a market capitalization of $119.29 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. 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 business has a 50-day moving average of $144.23 and a 200 day moving average of $150.55.

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 analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share 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 issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.28%. Blackstone's dividend payout ratio (DPR) is 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.

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