Atria Wealth Solutions Inc. Sells 8,332 Shares of Blackstone Inc. (NYSE:BX)

Atria Wealth Solutions Inc. decreased its position in Blackstone Inc. (NYSE:BX) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,252 shares of the asset manager’s stock after selling 8,332 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Blackstone were worth $10,899,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its holdings in Blackstone by 5.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,500 shares of the asset manager’s stock worth $327,000 after purchasing an additional 133 shares during the last quarter. Bfsg LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $79,000. Madison Park Capital Advisors LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $2,183,000. GAMMA Investing LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $462,000. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of Blackstone by 10.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,313 shares of the asset manager’s stock worth $1,743,000 after buying an additional 1,217 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Morgan Stanley boosted their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Barclays restated an “equal weight” rating and set a $125.00 price objective (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Piper Sandler lowered their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.65.

Blackstone Stock Down 1.1 %

Shares of NYSE BX traded down $1.40 during mid-day trading on Thursday, reaching $122.38. 1,479,660 shares of the company’s stock were exchanged, compared to its average volume of 3,667,875. The firm has a market capitalization of $87.46 billion, a price-to-earnings ratio of 43.08, a PEG 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. The business has a fifty day simple moving average of $126.21 and a 200 day simple moving average of $118.24. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders 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 dividend on an annualized basis and a yield of 2.71%. Blackstone’s dividend payout ratio is 132.86%.

Insider Buying and Selling at Blackstone

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

Blackstone 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.