Blackstone Inc. (NYSE:BX) Shares Sold by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,878 shares of the asset manager’s stock after selling 1,197 shares during the period. Blackstone comprises 2.5% of Bridge Creek Capital Management LLC’s holdings, making the stock its 4th largest position. Bridge Creek Capital Management LLC’s holdings in Blackstone were worth $7,811,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the 4th quarter valued at about $30,000. Roxbury Financial LLC acquired a new stake in Blackstone in the 4th quarter valued at about $34,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone in the 4th quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Blackstone in the 4th quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Bank of America lowered their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. TD Cowen lowered their price target on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Cowen reissued a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $155.65.

Blackstone Stock Performance

Shares of NYSE:BX opened at $138.62 on Tuesday. The company’s 50 day simple moving average is $135.67 and its 200 day simple moving average is $158.54. The stock has a market capitalization of $101.14 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period last year, the business earned $0.98 earnings per share. As a group, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. Blackstone’s dividend payout ratio is currently 112.05%.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.