Blackstone Inc. (NYSE:BX) Shares Sold by JRM Investment Counsel LLC

JRM Investment Counsel LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 17.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 35,221 shares of the asset manager’s stock after selling 7,225 shares during the quarter. Blackstone comprises 2.1% of JRM Investment Counsel LLC’s holdings, making the stock its 11th largest position. JRM Investment Counsel LLC’s holdings in Blackstone were worth $6,073,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Blackstone by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager’s stock worth $139,302,000 after buying an additional 51,897 shares during the last quarter. ORG Partners LLC boosted its stake in Blackstone by 232.1% in the fourth quarter. ORG Partners LLC now owns 279 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 195 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Blackstone by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 14,278 shares of the asset manager’s stock worth $2,462,000 after purchasing an additional 352 shares in the last quarter. LVM Capital Management Ltd. MI purchased a new position in Blackstone during the 4th quarter worth approximately $249,000. Finally, Czech National Bank increased its position in Blackstone by 6.7% during the fourth quarter. Czech National Bank now owns 156,545 shares of the asset manager’s stock worth $26,991,000 after buying an additional 9,858 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,660,538 shares of company stock valued at $24,981,930 over the last quarter. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BX shares. JMP Securities reaffirmed a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $154.82.

Blackstone Stock Down 0.3 %

BX opened at $139.41 on Friday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a market cap of $101.72 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 1.07 and a beta of 1.67. The business’s fifty day moving average is $136.87 and its two-hundred day moving average is $162.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the business posted $0.98 earnings per share. Analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.67%. Blackstone’s dividend payout ratio (DPR) is 112.05%.

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.