Bryn Mawr Capital Management LLC Buys 1,036 Shares of Blackstone Inc. (NYSE:BX)

Bryn Mawr Capital Management LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 8.2% in the fourth quarter, Holdings Channel reports. The firm owned 13,602 shares of the asset manager’s stock after purchasing an additional 1,036 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Blackstone were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BX. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Blackstone during the fourth quarter worth $30,000. Exchange Traded Concepts LLC lifted its position in shares of Blackstone by 763.0% during the fourth 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. Family CFO Inc purchased a new stake in shares of Blackstone during the third quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $33,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 over the last ninety days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods increased their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Argus increased their price objective on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $123.65.

Blackstone Trading Down 0.7 %

Shares of NYSE:BX traded down $0.92 on Friday, reaching $122.44. 2,962,411 shares of the company traded hands, compared to its average volume of 3,686,269. The business’s 50-day simple moving average is $125.96 and its 200 day simple moving average is $118.39. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56. The stock has a market capitalization of $87.50 billion, a P/E ratio of 43.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. As a group, equities analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.71%. Blackstone’s payout ratio is presently 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.