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

Everpar Advisors LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,659 shares of the asset manager’s stock after selling 196 shares during the quarter. Everpar Advisors LLC’s holdings in Blackstone were worth $651,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at $63,109,000. Parallel Advisors LLC grew its stake in shares of Blackstone by 6.6% in the first quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock valued at $4,363,000 after buying an additional 1,943 shares in the last quarter. Comprehensive Money Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at $1,747,000. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Blackstone by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 716,319 shares of the asset manager’s stock valued at $123,508,000 after buying an additional 5,951 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BX. Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Cowen reiterated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Wells Fargo & Company lifted their target price on Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $155.65.

Blackstone Stock Down 3.1%

Blackstone stock opened at $136.37 on Friday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market capitalization of $99.50 billion, a P/E ratio of 37.57, a PEG ratio of 1.07 and a beta of 1.65. The stock has a 50-day simple moving average of $136.51 and a 200-day simple moving average of $155.85.

Blackstone (NYSE:BX) last posted 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 firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

Insider Buying and Selling at Blackstone

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

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.