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

Teamwork Financial Advisors LLC lessened its position in Blackstone Inc. (NYSE:BX) by 14.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,840 shares of the asset manager’s stock after selling 316 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Blackstone were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Veracity Capital LLC lifted its position in shares of Blackstone by 3.8% in the 1st quarter. Veracity Capital LLC now owns 3,152 shares of the asset manager’s stock valued at $414,000 after acquiring an additional 114 shares in the last quarter. Accel Wealth Management lifted its position in shares of Blackstone by 14.1% in the 1st quarter. Accel Wealth Management now owns 14,251 shares of the asset manager’s stock valued at $1,872,000 after acquiring an additional 1,765 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Blackstone by 32.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock valued at $1,548,000 after buying an additional 2,858 shares during the period. Dupree Financial Group LLC acquired a new position in Blackstone in the 1st quarter valued at approximately $274,000. Finally, Norden Group LLC increased its stake in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BX. TD Cowen dropped their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Morgan Stanley increased their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Argus increased their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America dropped their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Piper Sandler dropped their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $123.65.

Blackstone Price Performance

Shares of Blackstone stock opened at $123.45 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $133.56. The firm has a fifty day moving average price of $122.35 and a two-hundred day moving average price of $124.43. The company has a market cap of $88.22 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50.

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

Blackstone Cuts Dividend

The firm 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s payout ratio is 117.31%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Blackstone 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.