Blackstone Inc. (NYSE:BX) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Blackstone Inc. (NYSE:BX) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,585 shares of the asset manager’s stock after selling 4,002 shares during the period. Amalgamated Bank’s holdings in Blackstone were worth $23,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Global Investments purchased a new position in Blackstone during the fourth quarter worth about $231,000. Aveo Capital Partners LLC purchased a new position in Blackstone in the fourth quarter worth approximately $217,000. Doheny Asset Management CA acquired a new stake in Blackstone during the fourth quarter worth $226,000. SRS Capital Advisors Inc. grew its holdings in shares of Blackstone by 11.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 7,480 shares of the asset manager’s stock worth $979,000 after purchasing an additional 745 shares during the period. Finally, Natixis Advisors L.P. lifted its position in Blackstone by 12.4% in the fourth quarter. Natixis Advisors L.P. now owns 56,584 shares of the asset manager’s stock valued at $7,408,000 after buying an additional 6,233 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other 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 value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ruth Porat acquired 232 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the transaction, the director now owns 34,225 shares in the company, valued at $4,349,313. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BX shares. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods increased their target price on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. UBS Group lifted their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Argus raised their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, BMO Capital Markets increased their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.65.

Blackstone Stock Down 0.8 %

BX traded down $1.00 on Friday, reaching $117.99. The company’s stock had a trading volume of 4,411,372 shares, compared to its average volume of 3,691,220. The stock has a 50 day moving average of $125.29 and a two-hundred day moving average of $118.76. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. 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 company has a market capitalization of $84.32 billion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 0.97 and a beta of 1.52.

Blackstone (NYSE:BX) last announced 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. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the company earned $0.97 earnings per share. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

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

Blackstone Company 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.