Global Wealth Management Investment Advisory Inc. Sells 236 Shares of Blackstone Inc. (NYSE:BX)

Global Wealth Management Investment Advisory Inc. lessened its position in Blackstone Inc. (NYSE:BX) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,090 shares of the asset manager’s stock after selling 236 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Blackstone were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its stake in shares of Blackstone by 5.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after buying an additional 15,875 shares during the last quarter. Chicago Capital LLC bought a new stake in shares of Blackstone in the fourth quarter worth about $3,734,000. Illinois Municipal Retirement Fund bought a new stake in shares of Blackstone in the fourth quarter worth about $855,000. Kampmann Melissa S. bought a new stake in shares of Blackstone in the third quarter worth about $2,314,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Blackstone by 1,722.9% in the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after purchasing an additional 476,768 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BX. BMO Capital Markets raised their target price on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. UBS Group raised their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen lowered their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Finally, Barclays restated an “equal weight” rating and issued a $125.00 price objective (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target of $123.65.

Blackstone Stock Performance

BX stock opened at $117.47 on Thursday. The stock has a market capitalization of $83.95 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. 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 stock’s 50 day simple moving average is $125.45 and its 200 day simple moving average is $118.76.

Blackstone (NYSE:BX) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.97 EPS. As a group, research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid 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 yield of 2.83%. Blackstone’s dividend payout ratio is presently 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on 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 directly owns 393,143 shares in the company, valued at approximately $50,294,783.99. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’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 completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

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.