Blackstone Inc. (NYSE:BX) Shares Sold by Marion Wealth Management

Marion Wealth Management trimmed its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,449 shares of the asset manager's stock after selling 2,484 shares during the period. Marion Wealth Management's holdings in Blackstone were worth $2,159,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Avondale Wealth Management lifted its holdings in shares of Blackstone by 20.0% during the 1st quarter. Avondale Wealth Management now owns 2,100 shares of the asset manager's stock valued at $294,000 after buying an additional 350 shares during the period. BTC Capital Management Inc. raised its holdings in Blackstone by 9.1% in the 1st quarter. BTC Capital Management Inc. now owns 1,505 shares of the asset manager's stock worth $210,000 after purchasing an additional 125 shares during the period. Welch Group LLC raised its holdings in Blackstone by 3.5% in the 1st quarter. Welch Group LLC now owns 59,206 shares of the asset manager's stock worth $8,177,000 after purchasing an additional 1,994 shares during the period. Parallel Advisors LLC raised its holdings in Blackstone by 6.6% in the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager's stock worth $4,363,000 after purchasing an additional 1,943 shares during the period. Finally, Silvia Mccoll Wealth Management LLC raised its holdings in Blackstone by 8.0% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 3,249 shares of the asset manager's stock worth $454,000 after purchasing an additional 240 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE:BX traded down $0.15 during mid-day trading on Monday, hitting $138.62. The company's stock had a trading volume of 3,006,396 shares, compared to its average volume of 3,791,585. The business's fifty day moving average is $135.83 and its two-hundred day moving average is $158.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock has a market cap of $101.14 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly 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). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 237 shares of the company's stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% 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.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Citigroup decreased 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. Morgan Stanley cut their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods cut their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. UBS Group cut their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America cut their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $155.65.

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.