Blackstone Inc. (NYSE:BX) is Welch Capital Partners LLC NY’s 3rd Largest Position

Welch Capital Partners LLC NY lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 0.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 277,177 shares of the asset manager’s stock after selling 175 shares during the quarter. Blackstone comprises about 9.7% of Welch Capital Partners LLC NY’s portfolio, making the stock its 3rd largest holding. Welch Capital Partners LLC NY’s holdings in Blackstone were worth $36,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Bourgeon Capital Management LLC grew its holdings in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc acquired a new stake in Blackstone during the 4th quarter worth approximately $30,000. Exchange Traded Concepts LLC increased its position in shares of Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Blackstone during the fourth quarter worth $33,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone during the third quarter valued at about $33,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

BX stock traded down $4.02 during trading on Tuesday, reaching $116.60. 4,328,759 shares of the stock were exchanged, compared to its average volume of 3,677,235. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a market capitalization of $83.33 billion, a P/E ratio of 42.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $125.82 and a 200-day simple moving average of $118.68.

Blackstone (NYSE:BX) last posted its 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. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is 117.31%.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 in the last three months. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BX has been the topic of several analyst reports. 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. The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. TD Cowen decreased their target price 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. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, Argus boosted their price target on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $123.65.

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.