Summit Trail Advisors LLC Decreases Position in Blackstone Inc. (NYSE:BX)

Summit Trail Advisors LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,324 shares of the asset manager’s stock after selling 2,885 shares during the period. Summit Trail Advisors LLC’s holdings in Blackstone were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Bourgeon Capital Management LLC boosted its stake in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc acquired a new position in Blackstone during the fourth quarter worth $30,000. Exchange Traded Concepts LLC increased its stake in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Blackstone during the 4th quarter worth $33,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BX shares. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their target price for the company from $116.00 to $124.00 in a report on Friday, January 19th. Morgan Stanley raised their price objective on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Argus boosted their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group lifted their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Stock Up 2.7 %

BX traded up $3.22 during trading on Monday, hitting $121.21. 3,399,241 shares of the company’s stock were exchanged, compared to its average volume of 3,688,110. Blackstone Inc. has a fifty-two week low of $80.05 and a fifty-two week high of $133.56. The business’s 50 day moving average is $125.14 and its two-hundred day moving average is $119.06. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market cap of $86.62 billion, a P/E ratio of 42.77, a PEG ratio of 0.98 and a beta of 1.52.

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

Blackstone Cuts Dividend

The company also recently declared 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 yield of 2.74%. Blackstone’s payout ratio is 117.31%.

Insider Buying and Selling

In other news, 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 transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction 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 transaction, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.