Silverlake Wealth Management LLC Decreases Holdings in Blackstone Inc. (NYSE:BX)

Silverlake Wealth Management LLC trimmed its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 45.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm 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 quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BX. Personal CFO Solutions LLC raised its stake in shares of Blackstone by 3.7% in the first quarter. Personal CFO Solutions LLC now owns 4,639 shares of the asset manager's stock valued at $648,000 after acquiring an additional 165 shares in the last quarter. AlphaStar Capital Management LLC grew its holdings in shares of Blackstone by 11.9% during the first quarter. AlphaStar Capital Management LLC now owns 1,634 shares of the asset manager's stock worth $228,000 after purchasing an additional 174 shares during the last quarter. Black Diamond Financial LLC grew its holdings in shares of Blackstone by 7.9% during the first quarter. Black Diamond Financial LLC now owns 1,563 shares of the asset manager's stock worth $219,000 after purchasing an additional 114 shares during the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Blackstone by 62.8% during the first quarter. Alpha Cubed Investments LLC now owns 8,144 shares of the asset manager's stock worth $1,138,000 after buying an additional 3,141 shares during the last quarter. Finally, Planning Directions Inc. grew its holdings in shares of Blackstone by 6.7% during the first quarter. Planning Directions Inc. now owns 1,683 shares of the asset manager's stock worth $235,000 after buying an additional 105 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BX. Bank of America lowered their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Wells Fargo & Company lifted their price objective on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. UBS Group lowered their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Finally, 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 report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.47.

Blackstone Price Performance

Shares of Blackstone stock traded up $5.53 during trading on Thursday, hitting $164.21. 5,577,641 shares of the company were exchanged, compared to its average volume of 3,885,497. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market capitalization of $119.81 billion, a price-to-earnings ratio of 49.46, a P/E/G ratio of 1.46 and a beta of 1.65. The firm has a 50 day moving average price of $142.58 and a 200 day moving average price of $151.12.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.27%. Blackstone's payout ratio is currently 112.05%.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 237 shares of the stock in a transaction on 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 owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 25,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Company 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.