Transcend Capital Advisors LLC Has $8.10 Million Holdings in Blackstone Inc. (NYSE:BX)

Transcend Capital Advisors LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 61,854 shares of the asset manager’s stock after selling 1,421 shares during the quarter. Blackstone accounts for approximately 0.7% of Transcend Capital Advisors LLC’s holdings, making the stock its 28th largest position. Transcend Capital Advisors LLC’s holdings in Blackstone were worth $8,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bourgeon Capital Management LLC lifted its holdings in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new position in Blackstone in the 4th quarter valued at approximately $30,000. Exchange Traded Concepts LLC raised its holdings 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 buying an additional 206 shares during the last quarter. Family CFO Inc acquired a new stake in Blackstone during the 3rd quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Blackstone during the 4th quarter valued at approximately $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 0.0 %

NYSE:BX traded down $0.04 during trading hours on Friday, hitting $122.49. 2,962,718 shares of the company traded hands, compared to its average volume of 3,161,162. 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 firm’s 50-day simple moving average is $125.96 and its 200-day simple moving average is $118.39. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56. The company has a market cap of $87.54 billion, a PE ratio of 43.27, a PEG ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The business 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 business’s revenue was up 166.9% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. Equities analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BX. Bank of America decreased their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, April 19th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. BMO Capital Markets raised their price objective on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, TD Cowen reduced their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.65.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone 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 completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Reginald J. Brown acquired 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $125.62 per share, with a total value of $301,488.00. Following the acquisition, the director now owns 16,949 shares in the company, valued at approximately $2,129,133.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. Company insiders own 1.00% of the company’s stock.

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.