Blackstone Inc. (NYSE:BX) Shares Sold by Triumph Capital Management

Triumph Capital Management trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 59.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,715 shares of the asset manager’s stock after selling 3,991 shares during the period. Triumph Capital Management’s holdings in Blackstone were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Blackstone by 10.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 25,804 shares of the asset manager’s stock valued at $2,765,000 after purchasing an additional 2,427 shares during the period. Simon Quick Advisors LLC bought a new stake in Blackstone during the third quarter worth approximately $424,000. Hartford Financial Management Inc. raised its holdings in Blackstone by 77.9% during the third quarter. Hartford Financial Management Inc. now owns 434 shares of the asset manager’s stock worth $46,000 after purchasing an additional 190 shares in the last quarter. Independent Advisor Alliance raised its holdings in Blackstone by 23.4% during the third quarter. Independent Advisor Alliance now owns 71,841 shares of the asset manager’s stock worth $7,697,000 after purchasing an additional 13,602 shares in the last quarter. Finally, Nadler Financial Group Inc. bought a new stake in Blackstone during the third quarter worth approximately $214,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Argus boosted their target price on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Barclays restated an “equal weight” rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $123.65.

Blackstone Trading Up 0.7 %

Shares of NYSE:BX opened at $117.47 on Thursday. The firm has a fifty day moving average of $125.45 and a two-hundred day moving average of $118.76. The firm has a market capitalization of $83.95 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

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

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is presently 117.31%.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. 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 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.