Blackstone Inc. (NYSE:BX) Stock Holdings Lessened by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its stake in shares of Blackstone Inc. (NYSE:BX) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,059 shares of the asset manager’s stock after selling 179 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Blackstone were worth $1,251,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BX. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the 4th quarter worth about $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Putney Financial Group LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $34,000. Finally, WFA Asset Management Corp acquired a new stake in shares of Blackstone during the 1st quarter valued at $38,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 237 shares of the stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction that occurred 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 in the company, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Barclays upped their price objective on shares of Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Cowen restated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $155.65.

Blackstone Price Performance

Shares of BX stock opened at $137.28 on Thursday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market capitalization of $100.16 billion, a P/E ratio of 41.35, a P/E/G ratio of 1.25 and a beta of 1.65. The stock has a 50 day moving average of $136.82 and a two-hundred day moving average of $154.76. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

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 business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.87 EPS 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. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.71%. Blackstone’s dividend payout ratio is currently 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.