Kathmere Capital Management LLC cut its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 65.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,390 shares of the asset manager’s stock after selling 4,492 shares during the quarter. Kathmere Capital Management LLC’s holdings in Blackstone were worth $275,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in BX. Brighton Jones LLC increased its holdings in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after acquiring an additional 177 shares during the last quarter. United Bank raised its position in shares of Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Blackstone during the second quarter valued at $1,124,000. Finally, Sei Investments Co. increased its stake in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Blackstone Trading Down 1.9%
NYSE BX opened at $118.62 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The firm’s fifty day simple moving average is $119.64 and its 200-day simple moving average is $127.19. The company has a market capitalization of $88.12 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.
Blackstone Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. Blackstone’s payout ratio is 118.67%.
Analysts Set New Price Targets
A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Royal Bank Of Canada started coverage on shares of Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating for the company. Argus reduced their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. HSBC lowered their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Finally, Evercore reissued an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a research note on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.36.
Check Out Our Latest Stock Analysis on BX
Insider Buying and Selling
In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by company insiders.
Blackstone Company Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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