Private Capital Advisors Inc. Has $12.25 Million Stock Holdings in Blackstone Inc. $BX

Private Capital Advisors Inc. cut its position in Blackstone Inc. (NYSE:BX) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,444 shares of the asset manager’s stock after selling 16,817 shares during the period. Blackstone accounts for approximately 1.3% of Private Capital Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Private Capital Advisors Inc.’s holdings in Blackstone were worth $12,245,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. REAP Financial Group LLC acquired a new position in Blackstone during the 3rd quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $30,000. Strive Asset Management LLC acquired a new position in Blackstone during the 3rd quarter valued at about $30,000. Family CFO Inc acquired a new position in Blackstone during the 4th quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Blackstone during the 4th quarter valued at about $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 0.0%

Blackstone stock opened at $118.58 on Friday. The stock has a market cap of $88.09 billion, a P/E ratio of 30.33, a PEG ratio of 1.30 and a beta of 1.63. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The firm’s fifty day moving average price is $117.74 and its 200-day moving average price is $133.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.9%. Blackstone’s payout ratio is 118.67%.

Insider Buying and Selling

In related news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The SEC filing for this sale provides additional information. In the last three months, insiders bought 13,502,092 shares of company stock valued at $294,789,896 and sold 9,128,660 shares valued at $46,457,920. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citizens Jmp cut their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Zacks Research cut shares of Blackstone from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price objective on Blackstone from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Piper Sandler upped their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group upped their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $151.05.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.