Account Management LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

Account Management LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,171 shares of the asset manager’s stock after selling 6,000 shares during the quarter. Blackstone makes up 14.6% of Account Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Account Management LLC’s holdings in Blackstone were worth $12,198,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Strategic Blueprint LLC lifted its holdings in Blackstone by 5.1% in the third quarter. Strategic Blueprint LLC now owns 9,015 shares of the asset manager’s stock valued at $966,000 after buying an additional 438 shares during the period. Caprock Group LLC lifted its holdings in Blackstone by 21.4% in the third quarter. Caprock Group LLC now owns 4,929 shares of the asset manager’s stock valued at $528,000 after buying an additional 868 shares during the period. Capital Asset Advisory Services LLC lifted its holdings in Blackstone by 8.1% in the third quarter. Capital Asset Advisory Services LLC now owns 2,641 shares of the asset manager’s stock valued at $283,000 after buying an additional 198 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Blackstone during the third quarter valued at about $225,000. Finally, Czech National Bank acquired a new position in shares of Blackstone during the third quarter valued at about $13,291,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone 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 directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone news, Director Ruth Porat purchased 232 shares of the stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 stock was 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 directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $116.00 to $124.00 in a report on Friday, January 19th. Piper Sandler dropped their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Argus raised their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and raised their price target for the company from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.65.

Blackstone Stock Performance

Blackstone stock traded down $0.04 during mid-day trading on Friday, reaching $122.49. The company’s stock had a trading volume of 2,962,718 shares, compared to its average volume of 3,161,162. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a market capitalization of $87.54 billion, a P/E ratio of 43.28, a PEG ratio of 1.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. The firm’s fifty day moving average price is $125.96 and its two-hundred day moving average price is $118.49.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share 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 during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business earned $0.97 EPS. Blackstone’s revenue was up 166.9% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is currently 132.86%.

Blackstone Company 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.