Blackstone Inc. (NYSE:BX) Holdings Trimmed by Sculati Wealth Management LLC

Sculati Wealth Management LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 28,237 shares of the asset manager’s stock after selling 364 shares during the quarter. Blackstone accounts for 1.9% of Sculati Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Sculati Wealth Management LLC’s holdings in Blackstone were worth $4,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hager Investment Management Services LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Finally, Roxbury Financial LLC bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 0.5%

BX opened at $136.23 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $137.02 and a 200-day moving average of $160.33. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock has a market capitalization of $99.40 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.73%. Blackstone’s dividend payout ratio (DPR) is currently 112.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BX shares. TD Cowen decreased their price objective on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company upped their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley decreased their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Cowen reaffirmed a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $155.65.

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.