Transcend Capital Advisors LLC Reduces Holdings in Blackstone Inc. (NYSE:BX)

Transcend Capital Advisors LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,854 shares of the asset manager’s stock after selling 1,421 shares during the period. Blackstone comprises approximately 0.7% of Transcend Capital Advisors LLC’s holdings, making the stock its 28th biggest holding. Transcend Capital Advisors LLC’s holdings in Blackstone were worth $8,098,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Opinicus Capital Inc. acquired a new stake in Blackstone during the fourth quarter worth approximately $2,177,000. Bank OZK boosted its holdings in shares of Blackstone by 7.5% in the 4th quarter. Bank OZK now owns 10,189 shares of the asset manager’s stock valued at $1,334,000 after purchasing an additional 714 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Blackstone by 22.3% in the 4th quarter. Russell Investments Group Ltd. now owns 202,475 shares of the asset manager’s stock valued at $26,584,000 after purchasing an additional 36,977 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $317,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $816,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.0 %

Shares of BX traded down $0.04 during midday trading on Friday, hitting $122.49. The company had a trading volume of 2,962,718 shares, compared to its average volume of 3,161,162. The company’s 50 day moving average price is $125.96 and its 200 day moving average price is $118.39. The stock has a market cap of $87.54 billion, a price-to-earnings ratio of 43.27, a PEG ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. On average, equities research analysts predict that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 132.86%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. BMO Capital Markets lifted their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Piper Sandler reduced their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group lowered shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.65.

About Blackstone

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.