Robertson Stephens Wealth Management LLC Has $298,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Robertson Stephens Wealth Management LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 42.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,274 shares of the asset manager’s stock after selling 1,711 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Blackstone were worth $298,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BX. Bourgeon Capital Management LLC increased its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc bought a new stake in Blackstone in the 4th quarter valued at about $30,000. Exchange Traded Concepts LLC grew its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Family CFO Inc acquired a new stake in shares of Blackstone in the third quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Blackstone during the fourth quarter worth approximately $33,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.8 %

Shares of NYSE:BX opened at $117.99 on Friday. The business has a fifty day simple moving average of $125.29 and a 200 day simple moving average of $118.76. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The firm has a market cap of $84.32 billion, a P/E ratio of 41.69, a P/E/G ratio of 0.99 and a beta of 1.52. 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 announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.81%. Blackstone’s payout ratio is currently 117.31%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Porat bought 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the transaction, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The disclosure for this purchase can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 in the last ninety days. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Wells Fargo & Company raised their target price on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Bank of America reduced their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group boosted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised their target price on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.65.

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.