TRUE Private Wealth Advisors Has $693,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

TRUE Private Wealth Advisors decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,296 shares of the asset manager’s stock after selling 250 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Blackstone were worth $693,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bourgeon Capital Management LLC boosted its stake in shares of 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. Exchange Traded Concepts LLC boosted its stake in shares of 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. Bruce G. Allen Investments LLC bought a new stake in Blackstone in the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at $25,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.1 %

NYSE BX opened at $123.19 on Thursday. Blackstone Inc. has a 1-year low of $79.92 and a 1-year high of $133.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $126.81 and a 200-day moving average of $117.64. The firm has a market cap of $88.04 billion, a PE ratio of 67.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.88 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. Blackstone’s payout ratio is 205.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BX shares. Morgan Stanley upped their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen began coverage on Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. UBS Group raised their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $119.97.

Insider Buying and Selling at Blackstone

In other Blackstone 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 transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now owns 982,221 shares in the company, valued at approximately $125,773,399.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 in the last 90 days. Insiders own 1.00% of the company’s stock.

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.