Valeo Financial Advisors LLC Has $1.56 Million Stake in Blackstone Inc. (NYSE:BX)

Valeo Financial Advisors LLC decreased its position in Blackstone Inc. (NYSE:BX) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,867 shares of the asset manager’s stock after selling 549 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Blackstone were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares in the last quarter. Norges Bank bought a new position in shares of Blackstone in the 4th quarter valued at about $708,859,000. International Assets Investment Management LLC grew its holdings in shares of Blackstone by 13,816.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after acquiring an additional 3,597,828 shares in the last quarter. Lone Pine Capital LLC bought a new position in shares of Blackstone in the 4th quarter valued at about $290,514,000. Finally, Capital World Investors grew its holdings in Blackstone by 4.2% during the fourth quarter. Capital World Investors now owns 33,738,986 shares of the asset manager’s stock worth $4,417,140,000 after purchasing an additional 1,367,581 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $123.40 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $88.19 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. The firm’s fifty day simple moving average is $122.35 and its two-hundred day simple moving average is $124.45. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $133.56.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, analysts predict that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders 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 dividend yield of 2.69%. Blackstone’s dividend payout ratio is currently 117.31%.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 219 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America reduced their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. Piper Sandler cut their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Barclays restated an “equal weight” rating and set a $125.00 price objective (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. TD Cowen cut their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Finally, Argus lifted their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $123.65.

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.