Lakeridge Wealth Management LLC Sells 93 Shares of Blackstone Inc. (NYSE:BX)

Lakeridge Wealth Management LLC lowered its position in Blackstone Inc. (NYSE:BX) by 6.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,456 shares of the asset manager’s stock after selling 93 shares during the period. Lakeridge Wealth Management LLC’s holdings in Blackstone were worth $204,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in Blackstone during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone in the 4th quarter worth $33,000. Roxbury Financial LLC bought a new position in Blackstone in the 4th quarter worth $34,000. Bernard Wealth Management Corp. bought a new position in Blackstone in the 4th quarter worth $34,000. Finally, Putney Financial Group LLC bought a new stake in Blackstone during the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America reduced their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. JMP Securities restated a “market outperform” rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Finally, Citigroup lowered their price target on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $155.65.

Blackstone Trading Down 3.1%

NYSE BX opened at $136.37 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $136.51 and a 200-day moving average of $155.85. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $99.50 billion, a PE ratio of 37.57, a PEG ratio of 1.07 and a beta of 1.65.

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

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s payout ratio is 112.05%.

Insider Transactions at Blackstone

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

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.