Blackstone Inc. $BX Position Trimmed by Atria Investments Inc

Atria Investments Inc lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 49.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,860 shares of the asset manager’s stock after selling 27,993 shares during the quarter. Atria Investments Inc’s holdings in Blackstone were worth $4,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Redwood Financial Network Corp lifted its position in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its stake in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the period. MidWestOne Financial Group Inc. lifted its stake in shares of Blackstone by 0.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock valued at $1,424,000 after purchasing an additional 70 shares during the period. Parcion Private Wealth LLC lifted its stake in shares of Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 70 shares during the period. Finally, Trivium Point Advisory LLC lifted its stake in shares of Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. BMO Capital Markets boosted their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Morgan Stanley dropped their price target on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada set a $173.00 price target on Blackstone in a research note on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $151.36.

Blackstone Stock Performance

Shares of Blackstone stock opened at $117.96 on Friday. The company has a market cap of $87.63 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The business has a 50 day moving average price of $117.10 and a 200-day moving average price of $134.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. Blackstone’s dividend payout ratio is 118.67%.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 355 shares of Blackstone stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the acquisition, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the transaction, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 4,015,297 shares of company stock valued at $105,053,996 and sold 9,128,660 shares valued at $46,457,920. 1.00% of the stock is owned by company insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.