Blackstone Inc. $BX Shares Sold by Northeast Investment Management

Northeast Investment Management cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 15.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,004 shares of the asset manager’s stock after selling 31,509 shares during the quarter. Northeast Investment Management’s holdings in Blackstone were worth $20,239,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at approximately $30,000. Family CFO Inc acquired a new position in shares of Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone in the fourth quarter valued at $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone during the 4th quarter worth about $29,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Blackstone in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.0%

NYSE BX opened at $114.17 on Friday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The firm has a market cap of $84.81 billion, a PE ratio of 29.20, a P/E/G ratio of 1.23 and a beta of 1.59. The firm’s fifty day moving average is $120.91 and its two-hundred day moving average is $129.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.11 earnings per share. Analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. Blackstone’s payout ratio is presently 118.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. TD Cowen reduced their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Evercore reissued an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Finally, Barclays dropped their price target on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.86.

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is currently owned by company insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.