Slow Capital Inc. Has $447,000 Stake in Blackstone Inc. (NYSE:BX)

Slow Capital Inc. reduced its position in shares of Blackstone Inc. (NYSE:BX) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,417 shares of the asset manager’s stock after selling 592 shares during the period. Slow Capital Inc.’s holdings in Blackstone were worth $447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scissortail Wealth Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth approximately $266,000. Tyche Wealth Partners LLC purchased a new position in Blackstone in the fourth quarter worth $765,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Blackstone by 0.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,453 shares of the asset manager’s stock valued at $16,555,000 after purchasing an additional 699 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Blackstone by 120.1% in the 4th quarter. Everence Capital Management Inc. now owns 9,510 shares of the asset manager’s stock worth $1,245,000 after buying an additional 5,190 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its holdings in Blackstone by 1.9% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,398 shares of the asset manager’s stock worth $707,000 after buying an additional 102 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the transaction, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Blackstone 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 value of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Porat bought 232 shares of the firm’s 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 directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BX. Morgan Stanley raised their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Finally, TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $119.97.

Blackstone Stock Up 1.1 %

Shares of NYSE BX opened at $123.19 on Thursday. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56. The firm has a market capitalization of $88.04 billion, a price-to-earnings ratio of 67.32, a PEG ratio of 0.99 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average of $126.81 and a 200-day moving average of $117.64.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm’s revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Sell-side analysts expect that Blackstone Inc. will post 4.88 earnings per share for the current fiscal 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 paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.70%. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

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.