Blackstone Inc. $BX Shares Sold by Roble Belko & Company Inc

Roble Belko & Company Inc reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 93.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 329 shares of the asset manager’s stock after selling 4,900 shares during the quarter. Roble Belko & Company Inc’s holdings in Blackstone were worth $38,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Redwood Financial Network Corp lifted its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after purchasing an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC grew its stake in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after buying an additional 69 shares during the last quarter. Parcion Private Wealth LLC lifted its stake in Blackstone by 0.6% in the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 70 shares during the last quarter. Trivium Point Advisory LLC boosted its holdings in shares of Blackstone by 2.6% in the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after acquiring an additional 70 shares during the period. Finally, Zacks Investment Management grew its position in shares of Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock worth $590,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.5%

BX stock opened at $123.18 on Tuesday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market cap of $91.51 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.34 and a beta of 1.59. The company’s 50-day moving average price is $121.23 and its 200 day moving average price is $130.08.

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

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Analyst Ratings Changes

A number of analysts recently weighed in on BX shares. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Argus lowered their price target on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. The Goldman Sachs Group reduced their price objective on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, BMO Capital Markets increased their price objective on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at $73,233.72. The trade was a 99.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 9,487,234 shares of company stock valued at $189,789,892 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Profile

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.