TBH Global Asset Management LLC Sells 600 Shares of Blackstone Inc. (NYSE:BX)

TBH Global Asset Management LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 10,479 shares of the asset manager’s stock after selling 600 shares during the quarter. TBH Global Asset Management LLC’s holdings in Blackstone were worth $1,372,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new stake in shares of Blackstone in the 4th quarter valued at $25,000. Bourgeon Capital Management LLC boosted its holdings in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new position in Blackstone during the fourth quarter worth about $30,000. Advantage Trust Co bought a new position in Blackstone during the fourth quarter worth about $30,000. Finally, Exchange Traded Concepts LLC boosted its position in Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. TD Cowen lowered their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. UBS Group raised their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Finally, Morgan Stanley lifted 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, April 17th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.65.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 219 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ruth Porat acquired 219 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.4 %

NYSE:BX traded up $0.53 during trading hours on Friday, hitting $123.64. The company had a trading volume of 1,805,605 shares, compared to its average volume of 3,627,000. The company has a market capitalization of $88.36 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The stock has a 50-day moving average price of $124.88 and a 200 day moving average price of $121.69. Blackstone Inc. has a 52 week low of $81.94 and a 52 week 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 0.79.

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

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

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.