Onyx Bridge Wealth Group LLC Has $534,000 Stake in Blackstone Inc. (NYSE:BX)

Onyx Bridge Wealth Group LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,081 shares of the asset manager’s stock after selling 412 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Blackstone were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BX. Coppell Advisory Solutions LLC bought a new position in shares of Blackstone in the second quarter worth about $25,000. Bourgeon Capital Management LLC raised its holdings in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares during the last quarter. Family CFO Inc bought a new position in Blackstone in the 3rd quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Blackstone in the 4th quarter valued at approximately $33,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.6 %

NYSE:BX traded down $1.92 during trading hours on Friday, hitting $118.40. 4,161,306 shares of the company traded hands, compared to its average volume of 2,894,347. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $126.47 and its 200-day simple moving average is $117.74. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56. The company has a market cap of $84.61 billion, a PE ratio of 41.84, a PEG ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The company 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 business posted $0.97 EPS. Equities analysts predict that Blackstone Inc. will post 4.86 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s payout ratio is 117.31%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Piper Sandler decreased their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Bank of America decreased their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.92.

Insider Transactions at Blackstone

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 sale, the insider now directly 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 available at this hyperlink. 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 sale, the insider now directly 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 available at this hyperlink. Also, Director Reginald J. Brown bought 2,400 shares of Blackstone stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $125.62 per share, with a total value of $301,488.00. Following the acquisition, the director now directly owns 16,949 shares in the company, valued at $2,129,133.38. The disclosure for this purchase can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. Company insiders own 1.00% of the company’s stock.

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.