Wealthspire Advisors LLC Sells 1,466 Shares of Blackstone Inc. (NYSE:BX)

Wealthspire Advisors LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,656 shares of the asset manager’s stock after selling 1,466 shares during the quarter. Wealthspire Advisors LLC’s holdings in Blackstone were worth $3,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Pinnacle Wealth Management Advisory Group LLC grew its stake in Blackstone by 7.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,510 shares of the asset manager’s stock worth $460,000 after purchasing an additional 237 shares during the period. National Pension Service boosted its stake in Blackstone by 2.3% during the fourth quarter. National Pension Service now owns 1,152,682 shares of the asset manager’s stock worth $150,909,000 after acquiring an additional 25,671 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Blackstone by 3.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 128,126 shares of the asset manager’s stock valued at $16,774,000 after buying an additional 3,981 shares in the last quarter. Everpar Advisors LLC bought a new position in Blackstone in the 4th quarter worth about $1,817,000. Finally, Patrick M Sweeney & Associates Inc. purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $1,786,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related 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 completion of the sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,851 shares of company stock valued at $357,137 and sold 2,587,168 shares valued at $37,816,476. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BX shares. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. BMO Capital Markets lifted their target price on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $123.65.

Blackstone Trading Down 1.4 %

Shares of NYSE BX traded down $1.71 during trading hours on Wednesday, hitting $119.79. 2,918,918 shares of the company traded hands, compared to its average volume of 3,674,363. 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 company’s 50 day moving average price is $124.96 and its 200 day moving average price is $119.45. The stock has a market capitalization of $85.61 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.52. Blackstone Inc. has a 12 month low of $80.05 and a 12 month high of $133.56.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is presently 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.