Blackstone Inc. (NYSE:BX) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,795 shares of the asset manager’s stock after selling 99 shares during the period. IVC Wealth Advisors LLC’s holdings in Blackstone were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BX. Avidian Wealth Enterprises LLC increased its position in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after purchasing an additional 62 shares in the last quarter. McAdam LLC raised its position in Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 63 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after buying an additional 63 shares during the period. Finally, Catalina Capital Group LLC increased its stake in shares of Blackstone by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager’s stock worth $365,000 after buying an additional 65 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Down 0.3%

BX stock opened at $138.45 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market cap of $101.02 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a fifty day moving average price of $135.83 and a 200 day moving average price of $159.15.

Blackstone (NYSE:BX) last announced 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). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the company posted $0.98 EPS. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider now directly owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BX has been the subject of several analyst reports. Wall Street Zen cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group dropped their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their price target on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Barclays increased their price objective on Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Finally, TD Cowen lowered their price target on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $155.65.

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.