Blackstone Inc. (NYSE:BX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its holdings in Blackstone Inc. (NYSE:BX) by 16.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,351 shares of the asset manager’s stock after selling 1,040 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Blackstone were worth $701,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. PFG Advisors bought a new position in Blackstone during the 3rd quarter valued at $226,000. Garrison Bradford & Associates Inc. boosted its stake in Blackstone by 2.7% during the 3rd quarter. Garrison Bradford & Associates Inc. now owns 66,201 shares of the asset manager’s stock valued at $7,093,000 after acquiring an additional 1,757 shares during the last quarter. Wagner Wealth Management LLC lifted its position in shares of Blackstone by 5.9% in the 3rd quarter. Wagner Wealth Management LLC now owns 3,788 shares of the asset manager’s stock worth $406,000 after buying an additional 212 shares during the last quarter. Strategic Blueprint LLC lifted its position in shares of Blackstone by 5.1% in the 3rd quarter. Strategic Blueprint LLC now owns 9,015 shares of the asset manager’s stock worth $966,000 after buying an additional 438 shares during the last quarter. Finally, Caprock Group LLC lifted its position in shares of Blackstone by 21.4% in the 3rd quarter. Caprock Group LLC now owns 4,929 shares of the asset manager’s stock worth $528,000 after buying an additional 868 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now directly owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.53 on Wednesday, reaching $123.78. The stock had a trading volume of 2,018,241 shares, compared to its average volume of 3,696,202. The business’s 50-day moving average price is $126.30 and its two-hundred day moving average price is $118.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The stock has a market cap of $88.46 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 4.8 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is currently 132.86%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $124.00 in a report on Friday, January 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Barclays reissued an “equal weight” rating and set a $125.00 target price (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, TD Cowen lowered their target price 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 research analysts have rated the stock with 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 $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.