Steamboat Capital Partners LLC Lowers Holdings in Blackstone Inc. (NYSE:BX)

Steamboat Capital Partners LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,980 shares of the asset manager’s stock after selling 488 shares during the quarter. Blackstone makes up approximately 1.3% of Steamboat Capital Partners LLC’s holdings, making the stock its 23rd largest holding. Steamboat Capital Partners LLC’s holdings in Blackstone were worth $4,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC increased its position in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after purchasing an additional 62 shares in the last quarter. McAdam LLC grew its holdings in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Blackstone by 0.6% during the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock worth $1,903,000 after purchasing an additional 63 shares in the last quarter. Finally, Catalina Capital Group LLC grew its holdings in shares of Blackstone by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager’s stock worth $365,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 25,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,660,538 shares of company stock worth $24,981,930 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Piper Sandler decreased their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Barclays boosted their price target on Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $154.82.

Blackstone Trading Down 0.0%

BX stock opened at $146.69 on Friday. The company has a market cap of $107.03 billion, a P/E ratio of 40.41, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $137.25 and a 200-day moving average of $161.48.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is 112.05%.

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.