Account Management LLC Has $12.20 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Account Management LLC lessened its position in Blackstone Inc. (NYSE:BX) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,171 shares of the asset manager’s stock after selling 6,000 shares during the quarter. Blackstone accounts for 14.6% of Account Management LLC’s portfolio, making the stock its 2nd largest position. Account Management LLC’s holdings in Blackstone were worth $12,198,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BX. Strategic Blueprint LLC lifted its holdings in Blackstone by 5.1% during the 3rd quarter. Strategic Blueprint LLC now owns 9,015 shares of the asset manager’s stock valued at $966,000 after buying an additional 438 shares in the last quarter. Caprock Group LLC lifted its holdings in Blackstone by 21.4% during the 3rd quarter. Caprock Group LLC now owns 4,929 shares of the asset manager’s stock valued at $528,000 after buying an additional 868 shares in the last quarter. Capital Asset Advisory Services LLC lifted its holdings in Blackstone by 8.1% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,641 shares of the asset manager’s stock valued at $283,000 after buying an additional 198 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Blackstone during the 3rd quarter valued at about $225,000. Finally, Czech National Bank bought a new stake in Blackstone during the 3rd quarter valued at about $13,291,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last three months. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BX. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. Argus raised their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, Piper Sandler cut their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $123.65.

Blackstone Stock Performance

BX stock traded down $0.04 during trading on Friday, reaching $122.49. The company had a trading volume of 2,962,718 shares, compared to its average volume of 3,161,162. 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 twelve month low of $79.92 and a twelve month high of $133.56. The firm has a 50-day simple moving average of $125.96 and a 200-day simple moving average of $118.49. The company has a market cap of $87.54 billion, a price-to-earnings ratio of 43.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last announced 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 business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the business posted $0.97 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, sell-side analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders 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 2.71%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is 132.86%.

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.