Mosley Wealth Management Trims Position in Blackstone Inc. (NYSE:BX)

Mosley Wealth Management decreased its position in shares of Blackstone Inc. (NYSE:BX) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,540 shares of the asset manager’s stock after selling 132 shares during the period. Mosley Wealth Management’s holdings in Blackstone were worth $465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE increased its position in shares of Blackstone by 36.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock worth $4,741,000 after acquiring an additional 9,699 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Blackstone by 8.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after acquiring an additional 28,856 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Blackstone by 8.9% in the 4th quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock worth $33,267,000 after buying an additional 20,830 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Blackstone in the 4th quarter worth about $855,000. Finally, Asset Management One Co. Ltd. lifted its position in Blackstone by 5.5% in 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 purchasing an additional 15,875 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 219 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

BX stock traded down $0.64 on Thursday, reaching $123.52. 1,014,366 shares of the company were exchanged, compared to its average volume of 3,477,620. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $133.56. The stock’s fifty day moving average price is $122.19 and its 200 day moving average price is $124.35. The firm has a market capitalization of $88.27 billion, a PE ratio of 43.65, a PEG ratio of 1.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79.

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 the consensus estimate of $0.98. The firm had revenue of $3.69 billion for 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 business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, research analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.69%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Argus lifted their price objective on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays reaffirmed an “equal weight” rating and issued a $125.00 price objective (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Finally, TD Cowen dropped their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Thirteen 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 has a consensus rating of “Hold” and an average price target of $123.65.

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.