Outlook Wealth Advisors LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Outlook Wealth Advisors LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 5.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,160 shares of the asset manager’s stock after selling 125 shares during the period. Outlook Wealth Advisors LLC’s holdings in Blackstone were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Blackstone in the 4th quarter worth $974,448,000. Raymond James Financial Inc. bought a new stake in shares of Blackstone during the 4th quarter valued at about $316,257,000. Capital Research Global Investors bought a new stake in shares of Blackstone during the 4th quarter valued at about $239,837,000. GAMMA Investing LLC grew its position in shares of Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock valued at $184,873,000 after buying an additional 1,313,606 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ruth Porat acquired 237 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the acquisition, the director now directly owns 37,067 shares of the company’s stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

Shares of Blackstone stock opened at $140.42 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a fifty day moving average price of $135.47 and a two-hundred day moving average price of $157.21. The company has a market cap of $102.46 billion, a PE ratio of 38.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the business posted $0.98 earnings per share. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.65%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Analyst Ratings Changes

Several brokerages have commented on BX. UBS Group dropped their price target on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. JMP Securities reiterated a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $155.65.

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.