Jump Financial LLC Sells 3,127 Shares of Blackstone Inc. (NYSE:BX)

Jump Financial LLC decreased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 55.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,511 shares of the asset manager's stock after selling 3,127 shares during the quarter. Jump Financial LLC's holdings in Blackstone were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bridgewater Associates LP bought a new stake in shares of Blackstone during the 4th quarter valued at $795,000. Guggenheim Capital LLC boosted its stake in Blackstone by 5.5% during the fourth quarter. Guggenheim Capital LLC now owns 189,913 shares of the asset manager's stock worth $32,745,000 after acquiring an additional 9,872 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Blackstone during the fourth quarter worth about $2,150,000. Broyhill Asset Management bought a new stake in Blackstone during the fourth quarter worth about $915,000. Finally, Belpointe Asset Management LLC boosted its stake in Blackstone by 24.7% during the fourth quarter. Belpointe Asset Management LLC now owns 18,779 shares of the asset manager's stock worth $3,238,000 after acquiring an additional 3,714 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

Shares of NYSE BX traded down $1.74 during midday trading on Wednesday, reaching $131.80. The stock had a trading volume of 5,750,406 shares, compared to its average volume of 3,769,230. The stock has a 50-day moving average of $139.76 and a 200-day moving average of $163.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market capitalization of $96.14 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.82%. Blackstone's dividend payout ratio is 112.05%.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cowen reissued a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Piper Sandler dropped their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Barclays upped their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Wells Fargo & Company dropped their target price on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $154.82.

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.