Blackstone Inc. (NYSE:BX) Holdings Decreased by MONECO Advisors LLC

MONECO Advisors LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 12.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,667 shares of the asset manager’s stock after selling 774 shares during the period. MONECO Advisors LLC’s holdings in Blackstone were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BX. Loomis Sayles & Co. L P boosted its position in Blackstone by 24.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,061 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 206 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Blackstone by 12.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 158,266 shares of the asset manager’s stock worth $17,007,000 after acquiring an additional 17,067 shares during the period. Aviva PLC boosted its position in Blackstone by 20.4% during the 3rd quarter. Aviva PLC now owns 159,613 shares of the asset manager’s stock worth $17,101,000 after acquiring an additional 27,061 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in Blackstone by 3.1% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,061 shares of the asset manager’s stock worth $542,000 after acquiring an additional 153 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Blackstone by 19.7% during the 3rd quarter. Checchi Capital Advisers LLC now owns 3,955 shares of the asset manager’s stock worth $424,000 after acquiring an additional 652 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 0.8 %

Blackstone stock opened at $122.16 on Tuesday. The business has a 50 day moving average price of $122.31 and a two-hundred day moving average price of $123.92. Blackstone Inc. has a 12 month low of $87.40 and a 12 month high of $133.56. The stock has a market cap of $87.30 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $0.97 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities analysts forecast that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.72%. Blackstone’s dividend payout ratio is presently 117.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BX shares. UBS Group boosted their price target on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Piper Sandler cut their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Argus upped their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, TD Cowen cut their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $123.65.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.