Blackstone Inc. (NYSE:BX) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,345 shares of the asset manager’s stock after selling 1,483 shares during the quarter. Intellectus Partners LLC’s holdings in Blackstone were worth $2,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bourgeon Capital Management LLC increased its position in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of Blackstone in the 4th quarter valued at $30,000. Exchange Traded Concepts LLC lifted its stake in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. Family CFO Inc acquired a new position in Blackstone during the 3rd quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Blackstone during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX traded down $0.04 during mid-day trading on Friday, reaching $122.49. The company had a trading volume of 2,962,718 shares, compared to its average volume of 3,161,162. The company has a market capitalization of $87.54 billion, a P/E ratio of 43.28, a P/E/G ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company’s 50-day moving average is $125.96 and its 200-day moving average is $118.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate 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 quarter in the previous year, the company posted $0.97 EPS. Blackstone’s revenue was up 166.9% on a year-over-year basis. On average, equities analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business 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 $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is 132.86%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction 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 directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the 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 transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last quarter. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. TD Cowen dropped their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Finally, TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.65.

About Blackstone

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.