Blackstone Inc. $BX Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its position in Blackstone Inc. (NYSE:BXFree Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,854 shares of the asset manager’s stock after selling 5,439 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Blackstone were worth $11,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BX. REAP Financial Group LLC acquired a new stake in Blackstone in the 3rd quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $30,000. Strive Asset Management LLC acquired a new stake in Blackstone during the third quarter valued at approximately $30,000. Kelleher Financial Advisors bought a new stake in Blackstone during the third quarter worth approximately $34,000. Finally, Parvin Asset Management LLC bought a new position in shares of Blackstone in the second quarter valued at $35,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 0.0%

NYSE:BX opened at $113.01 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $83.87 billion, a P/E ratio of 29.13, a P/E/G ratio of 0.90 and a beta of 1.74. The stock’s 50 day moving average price is $120.88 and its 200 day moving average price is $143.76. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 earnings per share. On average, research analysts forecast 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. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a yield of 5.3%. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio is 153.61%.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

Analysts Set New Price Targets

BX has been the subject of several research reports. BNP Paribas Exane reduced their price objective on Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Evercore cut their price objective on Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. UBS Group decreased their target price on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, Piper Sandler cut their price target on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $164.00.

Check Out Our Latest Stock Analysis on Blackstone

Insider Transactions at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. This trade represents a 18.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

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.

Further Reading

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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