Blackstone Inc. (NYSE:BX) Shares Sold by Triumph Capital Management

Triumph Capital Management decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 26.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,076 shares of the asset manager’s stock after selling 2,134 shares during the quarter. Triumph Capital Management’s holdings in Blackstone were worth $1,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BX. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone in the fourth quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone in the fourth quarter valued at approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Blackstone in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BX. Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JMP Securities restated a “market outperform” rating and set a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $154.82.

Insiders Place Their Bets

In related news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,660,538 shares of company stock worth $24,981,930. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $146.69 on Friday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm’s 50 day moving average is $137.25 and its 200-day moving average is $161.48. The firm has a market capitalization of $107.03 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 1.07 and a beta of 1.67. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the company posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

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.