Blackstone Inc. (NYSE:BX) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,275 shares of the asset manager’s stock after selling 309 shares during the quarter. Aviance Capital Partners LLC’s holdings in Blackstone were worth $2,138,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Congress Wealth Management LLC DE raised its holdings in shares of Blackstone by 36.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock valued at $4,741,000 after acquiring an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Blackstone by 8.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after purchasing an additional 28,856 shares during the period. TD Asset Management Inc boosted its holdings in Blackstone by 8.9% in the fourth quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock valued at $33,267,000 after purchasing an additional 20,830 shares during the period. Illinois Municipal Retirement Fund purchased a new position in Blackstone in the fourth quarter valued at $855,000. Finally, Asset Management One Co. Ltd. lifted its holdings in Blackstone by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock worth $40,348,000 after buying an additional 15,875 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 219 shares of Blackstone stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BX shares. Piper Sandler decreased their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Morgan Stanley boosted their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.65.

Blackstone Stock Down 0.2 %

NYSE:BX traded down $0.26 during mid-day trading on Monday, hitting $123.54. The company had a trading volume of 494,293 shares, compared to its average volume of 3,466,961. The business has a fifty day simple moving average of $122.37 and a 200-day simple moving average of $124.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $133.56. The firm has a market capitalization of $88.29 billion, a price-to-earnings ratio of 43.75, a PEG ratio of 1.04 and a beta of 1.50.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. Equities analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.69%. Blackstone’s payout ratio is currently 117.31%.

About Blackstone

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.