Triumph Capital Management Sells 3,991 Shares of Blackstone Inc. (NYSE:BX)

Triumph Capital Management decreased its position in Blackstone Inc. (NYSE:BX) by 59.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,715 shares of the asset manager’s stock after selling 3,991 shares during the quarter. Triumph Capital Management’s holdings in Blackstone were worth $355,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BX. Asset Management One Co. Ltd. grew its position in 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 period. Chicago Capital LLC purchased a new stake in Blackstone during the fourth quarter valued at about $3,734,000. Illinois Municipal Retirement Fund purchased a new stake in Blackstone during the fourth quarter valued at about $855,000. Kampmann Melissa S. purchased a new stake in Blackstone during the third quarter valued at about $2,314,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Blackstone by 1,722.9% during the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after purchasing an additional 476,768 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’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 in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’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 in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of the firm’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 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. Over the last 90 days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BX shares. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Argus increased their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.65.

Blackstone Stock Up 0.7 %

Shares of NYSE BX opened at $117.47 on Thursday. Blackstone Inc. has a one year low of $79.92 and a one 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. The firm’s 50 day simple moving average is $125.45 and its two-hundred day simple moving average is $118.76. The stock has a market capitalization of $83.95 billion, a P/E ratio of 41.51, a PEG ratio of 0.97 and a beta of 1.52.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, analysts expect that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is 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.