Kellett Wealth Advisors LLC Has $333,000 Holdings in Blackstone Inc. (NYSE:BX)

Kellett Wealth Advisors LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,544 shares of the asset manager’s stock after selling 297 shares during the period. Kellett Wealth Advisors LLC’s holdings in Blackstone were worth $333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WASHINGTON TRUST Co grew its stake in Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after acquiring an additional 7,907 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Blackstone by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after acquiring an additional 15,875 shares in the last quarter. Chicago Capital LLC purchased a new position in Blackstone during the 4th quarter valued at about $3,734,000. Kampmann Melissa S. purchased a new position in Blackstone during the 3rd quarter valued at about $2,314,000. Finally, The Manufacturers Life Insurance Company grew its stake in Blackstone by 1,722.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after acquiring an additional 476,768 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

BX stock traded down $2.91 during midday trading on Thursday, hitting $120.28. The stock had a trading volume of 5,701,696 shares, compared to its average volume of 3,722,024. The firm has a market capitalization of $85.96 billion, a price-to-earnings ratio of 67.32, a P/E/G ratio of 0.99 and a beta of 1.51. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56. The stock has a 50-day simple moving average of $126.81 and a 200 day simple moving average of $117.64. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.02). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.88 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.76%. Blackstone’s payout ratio is presently 205.46%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BX shares. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Wells Fargo & Company increased their price objective on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. increased their price objective on Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, BMO Capital Markets increased their price objective on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $119.97.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction 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 completion of the transaction, the director now directly owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ruth Porat bought 232 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is currently owned by company insiders.

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.