Bogart Wealth LLC Sells 170 Shares of Blackstone Inc. (NYSE:BX)

Bogart Wealth LLC lowered its position in Blackstone Inc. (NYSE:BX) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,003 shares of the asset manager’s stock after selling 170 shares during the quarter. Bogart Wealth LLC’s holdings in Blackstone were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BX. Vanguard Group Inc. increased its holdings in shares of Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after purchasing an additional 14,396,655 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after buying an additional 3,597,828 shares in the last quarter. Northern Trust Corp grew its stake in shares of Blackstone by 43.9% in the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after acquiring an additional 2,098,150 shares in the last quarter. Invesco Ltd. raised its stake in Blackstone by 255.2% in the 3rd quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock worth $289,073,000 after purchasing an additional 1,938,593 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $190,920,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 1.4 %

BX stock traded down $1.71 during trading on Wednesday, hitting $119.79. The company had a trading volume of 2,918,918 shares, compared to its average volume of 3,674,363. The stock has a market cap of $85.61 billion, a PE ratio of 42.33, a PEG ratio of 0.98 and a beta of 1.52. Blackstone Inc. has a one year low of $80.05 and a one year high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $124.96 and a 200-day moving average of $119.45.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. Research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.77%. Blackstone’s dividend payout ratio is currently 117.31%.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,851 shares of company stock valued at $357,137 and have sold 2,587,168 shares valued at $37,816,476. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Argus raised their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. BMO Capital Markets upped their target price on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Finally, Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.65.

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.