Choreo LLC Buys 5,790 Shares of Blackstone Inc. (NYSE:BX)

Choreo LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 124.5% during the fourth quarter, HoldingsChannel reports. The firm owned 10,442 shares of the asset manager’s stock after acquiring an additional 5,790 shares during the quarter. Choreo LLC’s holdings in Blackstone were worth $1,367,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bourgeon Capital Management LLC raised 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 during the period. Roble Belko & Company Inc acquired a new stake in Blackstone in the 4th quarter valued at approximately $30,000. Exchange Traded Concepts LLC raised its position in 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 buying an additional 206 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc acquired a new stake in Blackstone in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $116.60 on Wednesday. The business has a fifty day simple moving average of $125.63 and a 200 day simple moving average of $118.77. The company has a market capitalization of $83.33 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. 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 released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Research analysts expect that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.85%. Blackstone’s payout ratio is 117.31%.

Insider Activity

In other 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 transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly 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 sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BX. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Citigroup lowered Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets boosted their price target on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research 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. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $123.65.

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.