Sierra Capital LLC reduced its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 7.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,277 shares of the asset manager's stock after selling 1,738 shares during the quarter. Sierra Capital LLC's holdings in Blackstone were worth $2,974,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Blackstone during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new position in Blackstone in the 4th quarter worth $34,000. Putney Financial Group LLC bought a new position in Blackstone in the 4th quarter worth $34,000. von Borstel & Associates Inc. bought a new position in Blackstone in the 1st quarter worth $28,000. Finally, Garde Capital Inc. bought a new position in Blackstone in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
Insider Buying and Selling at Blackstone
In related news, insider John G. Finley sold 25,000 shares of the 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 transaction, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider owned 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.
Blackstone Trading Up 2.2%
Shares of BX traded up $3.37 during trading hours on Tuesday, reaching $156.36. 4,035,598 shares of the company traded hands, compared to its average volume of 3,859,613. The firm has a market cap of $114.09 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 1.43 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 current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock's fifty day moving average price is $141.58 and its 200 day moving average price is $151.04.
Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Cuts Dividend
The company 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. This represents a $3.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio is 112.05%.
Wall Street Analysts Forecast Growth
BX has been the subject of several research reports. Bank of America decreased their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. TD Cowen reduced their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group dropped their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Cowen reaffirmed a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $156.65.
Read Our Latest Analysis on BX
Blackstone Company Profile
(
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.
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