Bailard Inc. Sells 131 Shares of Blackstone Inc. (NYSE:BX)

Bailard Inc. cut its position in shares of Blackstone Inc. (NYSE:BX) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,685 shares of the asset manager’s stock after selling 131 shares during the quarter. Bailard Inc.’s holdings in Blackstone were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of BX. Bourgeon Capital Management LLC grew its stake in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Blackstone in the fourth quarter worth $30,000. Exchange Traded Concepts LLC lifted its holdings in shares of Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Family CFO Inc bought a new position in shares of Blackstone during the third quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Blackstone during the fourth quarter valued at $33,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 0.7 %

Shares of NYSE:BX opened at $122.44 on Friday. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The business’s fifty day simple moving average is $125.96 and its 200-day simple moving average is $118.39. The company has a market capitalization of $87.50 billion, a PE ratio of 43.27, a P/E/G ratio of 1.02 and a beta of 1.51. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly 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. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted $0.97 EPS. The business’s revenue was up 166.9% compared to the same quarter last year. As a group, equities research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.71%. Blackstone’s dividend payout ratio (DPR) is 132.86%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BX shares. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Morgan Stanley increased their target price on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Bank of America lowered their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and raised their price objective for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $123.65.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. 1.00% of the stock is owned by insiders.

About Blackstone

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.