Blackstone Inc. (NYSE:BX) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. decreased its position in shares of Blackstone Inc. (NYSE:BX) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the asset manager’s stock after selling 250 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Blackstone were worth $668,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC grew its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Roble Belko & Company Inc acquired a new stake in Blackstone in the 4th quarter valued at $30,000. Exchange Traded Concepts LLC boosted its stake in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Blackstone during the 4th quarter worth $33,000. Finally, Family CFO Inc acquired a new stake in Blackstone during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BX. BMO Capital Markets lifted their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods lifted their price target on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. JPMorgan Chase & Co. reduced their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. 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, the stock has a consensus rating of “Hold” and a consensus price target of $123.65.

Blackstone Stock Down 0.8 %

Blackstone stock traded down $1.00 during trading on Friday, reaching $117.99. The stock had a trading volume of 4,437,459 shares, compared to its average volume of 3,497,968. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $125.29 and a 200 day moving average price of $118.76. The stock has a market cap of $84.32 billion, a PE ratio of 41.69, a P/E/G ratio of 0.99 and a beta of 1.52. Blackstone Inc. has a 52-week low of $79.92 and a 52-week high of $133.56.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is currently 117.31%.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares in the company, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last three months. 1.00% of the stock is currently owned by corporate 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.