Integrated Advisors Network LLC Sells 1,694 Shares of Blackstone Inc. (NYSE:BX)

Integrated Advisors Network LLC cut its stake in Blackstone Inc. (NYSE:BX) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,624 shares of the asset manager’s stock after selling 1,694 shares during the period. Integrated Advisors Network LLC’s holdings in Blackstone were worth $9,508,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Greenleaf Trust bought a new position in shares of Blackstone during the 3rd quarter worth about $251,000. Navellier & Associates Inc. bought a new position in shares of Blackstone during the 3rd quarter worth about $214,000. Manchester Capital Management LLC lifted its holdings in Blackstone by 114.6% during the 3rd quarter. Manchester Capital Management LLC now owns 3,745 shares of the asset manager’s stock valued at $401,000 after purchasing an additional 2,000 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Blackstone by 24.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,061 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 206 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Blackstone by 12.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 158,266 shares of the asset manager’s stock valued at $17,007,000 after purchasing an additional 17,067 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX traded down $0.96 on Friday, hitting $121.25. 1,685,481 shares of the stock were exchanged, compared to its average volume of 2,907,827. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The business’s fifty day moving average is $122.46 and its 200 day moving average is $123.77. Blackstone Inc. has a 52 week low of $87.40 and a 52 week high of $133.56. The company has a market capitalization of $86.65 billion, a PE ratio of 42.84, a P/E/G ratio of 1.01 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 166.9% on a year-over-year basis. Research analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.74%. Blackstone’s dividend payout ratio is currently 117.31%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BX. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Barclays restated an “equal weight” rating and set a $125.00 price objective (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. Bank of America cut their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Finally, TD Cowen cut their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price 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.