Lionshead Wealth Management LLC lowered its stake in Blackstone Inc. (NYSE:BX - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,997 shares of the asset manager's stock after selling 2,349 shares during the quarter. Lionshead Wealth Management LLC's holdings in Blackstone were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the company. Ascent Group LLC grew its position in shares of Blackstone by 0.9% during the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after purchasing an additional 74 shares in the last quarter. Global Assets Advisory LLC grew its position in shares of Blackstone by 1.9% during the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC grew its position in shares of Blackstone by 0.6% during the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock valued at $1,652,000 after purchasing an additional 76 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Blackstone by 0.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock worth $1,460,000 after acquiring an additional 78 shares in the last quarter. Finally, Nicolet Advisory Services LLC grew its position in Blackstone by 0.7% in the first quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager's stock worth $1,539,000 after acquiring an additional 78 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $167.36, for a total transaction of $16,736,000.00. Following the sale, the director owned 808,757 shares in the company, valued at approximately $135,353,571.52. The trade was a 11.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,189,806 shares of company stock valued at $30,046,627 and have sold 16,850,134 shares valued at $131,641,986. 1.00% of the stock is owned by company insiders.
Blackstone Price Performance
BX stock opened at $170.2430 on Friday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a market cap of $125.48 billion, a P/E ratio of 45.76, a PEG ratio of 1.33 and a beta of 1.71. The firm has a 50-day moving average of $161.69 and a 200 day moving average of $149.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Blackstone's revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. Blackstone's dividend payout ratio is currently 110.75%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Citigroup reiterated a "market perform" rating on shares of Blackstone in a research report on Saturday, July 19th. Piper Sandler boosted their price target on shares of Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. JMP Securities boosted their price target on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a research note on Friday, July 25th. Finally, Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and an average price target of $170.12.
Check Out Our Latest Stock Report on Blackstone
Blackstone Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX - Free Report).
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