Integrated Advisors Network LLC Has $28.41 Million Holdings in Blackstone Inc. (NYSE:BX)

Integrated Advisors Network LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,254 shares of the asset manager’s stock after selling 19,585 shares during the quarter. Blackstone comprises approximately 1.4% of Integrated Advisors Network LLC’s investment portfolio, making the stock its 10th largest position. Integrated Advisors Network LLC’s holdings in Blackstone were worth $28,411,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BX. Lord Abbett & CO. LLC acquired a new stake in Blackstone during the 4th quarter worth about $63,109,000. Wealthcare Capital Partners LLC bought a new stake in Blackstone in the fourth quarter worth approximately $2,102,000. Parallel Advisors LLC grew its position in shares of Blackstone by 6.6% during the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock worth $4,363,000 after buying an additional 1,943 shares during the period. Comprehensive Money Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter valued at $1,747,000. Finally, Vanguard Group Inc. grew its holdings in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the period. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BX. Morgan Stanley reduced their target price on Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. JMP Securities restated a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Wells Fargo & Company increased their target price on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Bank of America dropped their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Finally, Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.65.

Insider Buying and Selling at Blackstone

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the business’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 transaction of $3,461,750.00. Following the transaction, the insider now directly owns 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $142.98 on Wednesday. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The stock has a fifty day simple moving average of $135.52 and a two-hundred day simple moving average of $156.70. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. 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 for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business posted $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

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.