Blackstone Inc. (NYSE:BX) Stock Position Decreased by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. decreased its position in Blackstone Inc. (NYSE:BX) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,480 shares of the asset manager’s stock after selling 670 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in Blackstone were worth $1,372,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Northwest Financial Advisors acquired a new position in shares of Blackstone during the fourth quarter valued at about $25,000. Bourgeon Capital Management LLC raised its holdings in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $30,000. Advantage Trust Co acquired a new position in shares of Blackstone in the fourth quarter valued at $30,000. Finally, Exchange Traded Concepts LLC boosted its stake 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 buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. Barclays reiterated an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Argus lifted their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Bank of America decreased their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, Piper Sandler reduced their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.65.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price 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 $4,115,488.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $119.48 per share, with a total value of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Up 0.4 %

Shares of BX traded up $0.53 during midday trading on Friday, hitting $123.64. The stock had a trading volume of 1,815,353 shares, compared to its average volume of 3,463,357. Blackstone Inc. has a twelve month low of $81.94 and a twelve month 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. The company has a 50 day simple moving average of $124.85 and a two-hundred day simple moving average of $122.03. The firm has a market cap of $88.36 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. On average, analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.69%. Blackstone’s 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.