Stablepoint Partners LLC Sells 2,148 Shares of Blackstone Inc. (NYSE:BX)

Stablepoint Partners LLC decreased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,980 shares of the asset manager's stock after selling 2,148 shares during the period. Stablepoint Partners LLC's holdings in Blackstone were worth $4,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $30,000. Roxbury Financial LLC acquired a new position in Blackstone in the 4th quarter worth approximately $34,000. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone in the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in Blackstone in the 4th quarter worth approximately $34,000. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Down 0.8%

Shares of BX stock opened at $137.66 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock has a fifty day moving average of $135.52 and a two-hundred day moving average of $157.96. The firm has a market capitalization of $100.44 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors 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 dividend yield of 2.70%. Blackstone's payout ratio is 112.05%.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. UBS Group decreased their target price on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their target price 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. TD Cowen cut their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America cut their target price 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $155.65.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

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.

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