Kaizen Financial Strategies Sells 2,404 Shares of Blackstone Inc. (NYSE:BX)

Kaizen Financial Strategies lessened its position in Blackstone Inc. (NYSE:BX - Free Report) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,777 shares of the asset manager's stock after selling 2,404 shares during the period. Blackstone makes up 2.8% of Kaizen Financial Strategies' holdings, making the stock its 9th largest position. Kaizen Financial Strategies' holdings in Blackstone were worth $4,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Hager Investment Management Services LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $30,000. Roxbury Financial LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $34,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone in the fourth quarter worth about $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the fourth quarter worth about $34,000. Institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 25,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 1,660,538 shares of company stock worth $24,981,930 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.05 during midday trading on Wednesday, hitting $148.55. The company had a trading volume of 2,247,718 shares, compared to its average volume of 3,781,039. The business's 50 day simple moving average is $136.93 and its two-hundred day simple moving average is $161.87. The stock has a market cap of $108.39 billion, a PE ratio of 40.92, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.50%. Blackstone's dividend payout ratio is currently 112.05%.

Analysts Set New Price Targets

BX has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. UBS Group reduced their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Blackstone presently has a consensus rating of "Hold" and an average target price of $154.82.

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.