Blackstone Inc. (NYSE:BX) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank lowered its holdings in Blackstone Inc. (NYSE:BX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,585 shares of the asset manager’s stock after selling 4,002 shares during the period. Amalgamated Bank’s holdings in Blackstone were worth $23,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Blackstone by 30.2% during the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after purchasing an additional 14,396,655 shares during the period. International Assets Investment Management LLC raised its position in shares of Blackstone by 13,816.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after buying an additional 3,597,828 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Blackstone by 43.9% in the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after acquiring an additional 2,098,150 shares in the last quarter. Invesco Ltd. increased its stake in shares of Blackstone by 255.2% during the third quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock valued at $289,073,000 after acquiring an additional 1,938,593 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Blackstone in the third quarter worth approximately $190,920,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Piper Sandler dropped 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. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. 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 currently has an average rating of “Hold” and a consensus price target of $123.65.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated 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 owns 982,221 shares in the company, valued at approximately $125,773,399.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ruth Porat bought 232 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the acquisition, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction dated 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 in the company, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.8 %

BX stock traded down $1.00 during trading hours on Friday, hitting $117.99. The company’s stock had a trading volume of 4,411,372 shares, compared to its average volume of 3,691,220. The company has a market capitalization of $84.32 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. The stock has a 50 day moving average price of $125.29 and a two-hundred day moving average price of $118.76. 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 Inc. has a 12 month low of $79.92 and a 12 month high of $133.56.

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

Blackstone Cuts Dividend

The company also recently announced 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 2.81%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s payout ratio is 117.31%.

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.