Blackstone Inc. (NYSE:BX) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC lowered its stake in Blackstone Inc. (NYSE:BXFree Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,743 shares of the asset manager’s stock after selling 915 shares during the period. Xcel Wealth Management LLC’s holdings in Blackstone were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BX. Exchange Traded Concepts LLC raised its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares in the last quarter. Halpern Financial Inc. increased its position in Blackstone by 327.1% during the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock worth $27,000 after buying an additional 193 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Blackstone during the fourth quarter worth approximately $33,000. Coppell Advisory Solutions LLC acquired a new position in Blackstone during the second quarter worth approximately $25,000. Finally, Family CFO Inc acquired a new position in Blackstone during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX traded down $3.36 during trading on Friday, reaching $123.51. The company had a trading volume of 4,002,777 shares, compared to its average volume of 3,681,808. The stock has a market capitalization of $88.27 billion, a PE ratio of 67.52, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The stock has a 50-day moving average price of $126.92 and a two-hundred day moving average price of $117.16. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. As a group, sell-side analysts predict that Blackstone Inc. will post 4.89 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were given a $0.94 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. This represents a $3.76 annualized dividend and a dividend yield of 3.04%. Blackstone’s dividend payout ratio is presently 205.46%.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. lifted their price target on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and lifted their price target for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, TD Cowen started coverage on Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $119.92.

Check Out Our Latest Stock Report on BX

Insider Transactions at Blackstone

In related news, 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 value of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ruth Porat acquired 232 shares of the business’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 over the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Profile

(Free Report)

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.

See Also

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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