Blackstone Inc. (NYSE:BX) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,565 shares of the asset manager’s stock after selling 759 shares during the period. SeaCrest Wealth Management LLC’s holdings in Blackstone were worth $1,337,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BX. Lord Abbett & CO. LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $63,109,000. Wealthcare Capital Partners LLC acquired a new stake in Blackstone during the 4th quarter valued at $2,102,000. Parallel Advisors LLC boosted its stake in shares of Blackstone by 6.6% during the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock worth $4,363,000 after purchasing an additional 1,943 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter worth about $1,747,000. Finally, Vanguard Group Inc. boosted its stake in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider now owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Shares of BX opened at $140.42 on Friday. The business’s 50-day moving average is $135.47 and its 200-day moving average is $157.65. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a market capitalization of $102.46 billion, a price-to-earnings ratio of 38.68, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $0.98 EPS. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.65%. Blackstone’s dividend payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BX. Barclays raised their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. JMP Securities restated a “market outperform” rating and issued a $165.00 price target on shares of Blackstone in a research note on Thursday, April 24th. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. UBS Group lowered their target price on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reduced their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $155.65.

Blackstone Company 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.