Blackstone Inc. $BX Shares Sold by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA lowered its stake in Blackstone Inc. (NYSE:BXFree Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,440 shares of the asset manager’s stock after selling 50,713 shares during the quarter. Compagnie Lombard Odier SCmA owned about 0.05% of Blackstone worth $59,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC bought a new position in shares of Blackstone in the third quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Blackstone during the third quarter worth approximately $30,000. Strive Asset Management LLC bought a new position in Blackstone during the third quarter valued at about $30,000. Kelleher Financial Advisors acquired a new position in Blackstone in the third quarter worth approximately $34,000. Finally, Parvin Asset Management LLC acquired a new stake in Blackstone during the 2nd quarter worth about $35,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HSBC cut their target price on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Jefferies Financial Group lowered their price target on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Citigroup reissued a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Citizens Jmp reiterated a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Read Our Latest Analysis on Blackstone

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Blackstone Stock Performance

BX stock opened at $114.40 on Thursday. The company has a market capitalization of $84.90 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 0.91 and a beta of 1.79. The firm has a 50 day moving average of $122.46 and a two-hundred day moving average of $144.75. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business earned $1.69 EPS. Blackstone’s quarterly revenue was up 41.4% compared to the same quarter last year. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a $1.49 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.2%. Blackstone’s dividend payout ratio is presently 153.61%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.

About Blackstone

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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