Blackstone Inc. $BX Shares Sold by Seneca House Advisors

Seneca House Advisors lessened its stake in Blackstone Inc. (NYSE:BXFree Report) by 62.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,084 shares of the asset manager’s stock after selling 26,921 shares during the quarter. Seneca House Advisors’ holdings in Blackstone were worth $1,850,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BX. Jain Global LLC purchased a new position in Blackstone during the third quarter worth approximately $9,116,000. Fayez Sarofim & Co raised its stake in shares of Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after buying an additional 24,237 shares during the period. Greenup Street Wealth Management LLC grew its stake in Blackstone by 1,034.3% in the 4th quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock valued at $2,149,000 after acquiring an additional 12,711 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Blackstone by 9.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock worth $15,561,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Moore Capital Management LP purchased a new position in Blackstone during the third quarter valued at $14,310,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 10,252,345 shares of company stock valued at $209,789,893 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock traded up $0.82 on Friday, hitting $122.97. 2,568,812 shares of the company were exchanged, compared to its average volume of 4,830,672. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $91.35 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. The company has a 50-day moving average price of $119.72 and a 200 day moving average price of $126.95.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio is currently 118.67%.

Analysts Set New Price Targets

BX has been the topic of a number of research reports. Barclays decreased their price target on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank Of Canada initiated coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating for the company. Piper Sandler lifted their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, BNP Paribas Exane lowered their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.10.

Get Our Latest Report on BX

About Blackstone

(Free Report)

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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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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