Blackstone Inc. (NYSE:BX) Shares Sold by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. decreased its holdings in Blackstone Inc. (NYSE:BX) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,102 shares of the asset manager’s stock after selling 650 shares during the quarter. Blackstone comprises about 0.9% of Disciplined Equity Management Inc.’s portfolio, making the stock its 18th biggest position. Disciplined Equity Management Inc.’s holdings in Blackstone were worth $1,323,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BX. Bourgeon Capital Management LLC lifted its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the period. Roble Belko & Company Inc acquired a new stake in Blackstone during the 4th quarter worth about $30,000. Exchange Traded Concepts LLC lifted its position in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares during the period. Family CFO Inc acquired a new stake in Blackstone during the 3rd quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Blackstone during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ruth Porat bought 232 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $127.08 per share, with a total value of $29,482.56. Following the completion of the transaction, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX stock traded down $0.54 during trading on Wednesday, hitting $123.77. The stock had a trading volume of 2,021,222 shares, compared to its average volume of 3,696,255. The stock has a market capitalization of $88.45 billion, a P/E ratio of 43.74, a PEG ratio of 1.01 and a beta of 1.51. The company’s 50-day moving average price is $126.21 and its two-hundred day moving average price is $118.24. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. As a group, research analysts predict that Blackstone Inc. will post 4.8 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is currently 132.86%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Piper Sandler reduced their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. UBS Group lifted their price objective on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Morgan Stanley lifted their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.65.

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.