Silverlake Wealth Management LLC Sells 2,167 Shares of Blackstone Inc. (NYSE:BX)

Silverlake Wealth Management LLC lowered its position in Blackstone Inc. (NYSE:BX - Free Report) by 45.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,627 shares of the asset manager's stock after selling 2,167 shares during the period. Silverlake Wealth Management LLC's holdings in Blackstone were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BX. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the 4th quarter valued at $33,000. Bernard Wealth Management Corp. acquired a new stake in Blackstone in the 4th quarter valued at $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $34,000. von Borstel & Associates Inc. bought a new stake in Blackstone during the first quarter worth about $28,000. Finally, Garde Capital Inc. acquired a new position in shares of Blackstone during the 1st quarter worth approximately $36,000. Institutional investors own 70.00% of the company's stock.

Insider Activity

In related news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was purchased 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ruth Porat acquired 237 shares of the company's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the purchase, the director directly owned 37,067 shares of the company's stock, valued at $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. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

BX has been the topic of several research analyst reports. 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 research report on Tuesday, April 22nd. TD Cowen dropped their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays reiterated an "equal weight" rating on shares of Blackstone in a research report on Thursday. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $161.29.

Blackstone Trading Down 1.1%

Blackstone stock traded down $1.85 during trading hours on Friday, reaching $162.21. The stock had a trading volume of 3,976,798 shares, compared to its average volume of 3,885,861. The stock has a market cap of $118.36 billion, a PE ratio of 48.86, a PEG ratio of 1.46 and a beta of 1.65. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a fifty day simple moving average of $143.19 and a 200-day simple moving average of $151.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 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 firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 dividend yield of 2.29%. 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.