Harvest Fund Management Co. Ltd Sells 1,040 Shares of Blackstone Inc. (NYSE:BX)

Harvest Fund Management Co. Ltd lowered its stake in Blackstone Inc. (NYSE:BX) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,351 shares of the asset manager’s stock after selling 1,040 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Blackstone were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bourgeon Capital Management LLC raised its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Blackstone in the 4th quarter valued at about $30,000. Exchange Traded Concepts LLC raised its holdings 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 valued at $31,000 after buying an additional 206 shares in the last quarter. Family CFO Inc purchased a new position in shares of Blackstone during the 3rd quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Blackstone during the 4th quarter valued at about $33,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX traded down $0.53 during mid-day trading on Wednesday, hitting $123.78. 2,018,241 shares of the company traded hands, compared to its average volume of 3,696,202. The stock’s fifty day moving average price is $126.30 and its 200-day moving average price is $118.20. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56. 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 has a market cap of $88.46 billion, a price-to-earnings ratio of 43.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business 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 revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. Research analysts anticipate that Blackstone Inc. will post 4.8 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is 132.86%.

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 sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Reginald J. Brown acquired 2,400 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $125.62 per share, for a total transaction of $301,488.00. Following the completion of the transaction, the director now owns 16,949 shares of the company’s stock, valued at $2,129,133.38. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BX shares. Citigroup lowered Blackstone from a “buy” rating to a “neutral” rating and raised their price target for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Morgan Stanley raised their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. BMO Capital Markets lifted their price objective on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TD Cowen cut their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Finally, TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.