Pittenger & Anderson Inc. Sells 125 Shares of Blackstone Inc. (NYSE:BX)

Pittenger & Anderson Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,535 shares of the asset manager’s stock after selling 125 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Blackstone were worth $1,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Bourgeon Capital Management LLC boosted its position in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Blackstone in the 4th quarter worth about $30,000. 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 acquiring an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $33,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BX. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Wells Fargo & Company raised their target price on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Piper Sandler decreased their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.65.

Insider Activity 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 dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated 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 in the company, valued at $50,294,783.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’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 directly owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

BX stock traded down $0.42 on Thursday, reaching $123.36. The company’s stock had a trading volume of 3,573,182 shares, compared to its average volume of 3,694,664. The company has a market capitalization of $88.16 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56. The firm has a fifty day moving average of $126.21 and a two-hundred day moving average of $118.24.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is 132.86%.

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.