Private Capital Advisors Inc. Has $12.25 Million Stock Holdings in Blackstone Inc. $BX

Key Points

• Private Capital Advisors Inc. cut its Blackstone stake by 17.5% in the fourth quarter, selling 16,817 shares and ending with 79,444 shares valued at about $12.25 million.
• Blackstone reported better-than-expected earnings of $1.36 per share for the quarter, while revenue came in just below estimates at $3.43 billion and rose 10% year over year.
• The company recently paid a quarterly dividend of $1.16 per share (3.9% annualized yield), though its payout ratio is high at 118.67%, and Wall Street currently has a consensus Hold rating on the stock.

Private Capital Advisors Inc. lessened its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,444 shares of the asset manager's stock after selling 16,817 shares during the quarter. Blackstone accounts for approximately 1.3% of Private Capital Advisors Inc.'s investment portfolio, making the stock its 18th biggest position. Private Capital Advisors Inc.'s holdings in Blackstone were worth $12,245,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Redwood Financial Network Corp boosted its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock valued at $537,000 after purchasing an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its holdings in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock valued at $1,194,000 after purchasing an additional 69 shares in the last quarter. MidWestOne Financial Group Inc. boosted its holdings in shares of Blackstone by 0.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager's stock valued at $1,424,000 after purchasing an additional 70 shares in the last quarter. Parcion Private Wealth LLC boosted its holdings in shares of Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager's stock valued at $1,686,000 after purchasing an additional 70 shares in the last quarter. Finally, Trivium Point Advisory LLC lifted its stake in shares of Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager's stock valued at $418,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Up 0.0%

Shares of NYSE:BX opened at $118.58 on Friday. The firm has a market cap of $88.09 billion, a P/E ratio of 30.33, a P/E/G ratio of 1.30 and a beta of 1.63. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The business has a fifty day simple moving average of $117.74 and a 200 day simple moving average of $133.62.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. Analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone's dividend payout ratio (DPR) is presently 118.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BX. JPMorgan Chase & Co. dropped their price target on Blackstone from $142.00 to $136.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Weiss Ratings cut Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Citigroup reiterated a "market outperform" rating on shares of Blackstone in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Blackstone from $156.00 to $146.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Finally, UBS Group dropped their price target on Blackstone from $171.00 to $137.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $151.05.

Insider Activity

In other Blackstone news, Director Ruth Porat purchased 355 shares of the firm's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the acquisition, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares of the company's stock, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 13,502,092 shares of company stock worth $294,789,896 and sold 9,128,660 shares worth $46,457,920. 1.00% of the stock is currently owned by insiders.

Blackstone Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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