Blackstone Inc. (NYSE:BX) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC trimmed its holdings in Blackstone Inc. (NYSE:BX) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,437 shares of the asset manager’s stock after selling 184 shares during the period. IVC Wealth Advisors LLC’s holdings in Blackstone were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BX. Northwest Financial Advisors purchased a new position in shares of Blackstone during the 4th quarter worth about $25,000. Bourgeon Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 100 shares during the period. Roble Belko & Company Inc purchased a new position in shares of Blackstone during the 4th quarter worth about $30,000. Advantage Trust Co purchased a new position in shares of Blackstone during the 4th quarter worth about $30,000. Finally, Exchange Traded Concepts LLC raised its holdings in Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 219 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the purchase, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 0.2 %

NYSE:BX traded up $0.19 on Wednesday, hitting $123.40. 2,102,444 shares of the company’s stock traded hands, compared to its average volume of 3,471,180. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $133.56. The firm has a 50-day moving average price of $122.35 and a 200-day moving average price of $124.45. The company has a market cap of $88.19 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50.

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

Blackstone Cuts Dividend

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

Wall Street Analysts Forecast Growth

BX has been the topic of several research reports. Barclays restated an “equal weight” rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. Piper Sandler dropped their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Argus lifted their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, TD Cowen dropped their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.65.

Blackstone 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.