Donoghue Forlines LLC Sells 2,307 Shares of Blackstone Inc. (NYSE:BX)

Donoghue Forlines LLC trimmed its position in Blackstone Inc. (NYSE:BXGet Rating) by 15.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,669 shares of the asset manager’s stock after selling 2,307 shares during the period. Donoghue Forlines LLC’s holdings in Blackstone were worth $1,639,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Krilogy Financial LLC boosted its stake in shares of Blackstone by 0.7% in the fourth quarter. Krilogy Financial LLC now owns 12,811 shares of the asset manager’s stock valued at $1,658,000 after buying an additional 88 shares during the period. First Bank & Trust boosted its holdings in shares of Blackstone by 7.0% in the 4th quarter. First Bank & Trust now owns 1,366 shares of the asset manager’s stock valued at $177,000 after buying an additional 89 shares in the last quarter. CAPROCK Group Inc. boosted its position in shares of Blackstone by 1.5% during the 4th quarter. CAPROCK Group Inc. now owns 6,334 shares of the asset manager’s stock valued at $820,000 after acquiring an additional 92 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in Blackstone by 0.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 14,311 shares of the asset manager’s stock worth $1,852,000 after purchasing an additional 92 shares during the period. Finally, Financial Engines Advisors L.L.C. increased its stake in Blackstone by 1.8% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 5,576 shares of the asset manager’s stock worth $721,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 63.68% of the company’s stock.

A number of analysts have issued reports on the stock. Exane BNP Paribas lowered shares of Blackstone from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 7th. Citigroup cut their target price on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Wells Fargo & Company upped their target price on shares of Blackstone from $120.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Zacks Investment Research upgraded shares of Blackstone from a “sell” rating to a “hold” rating and set a $125.00 target price on the stock in a research note on Thursday, April 7th. Finally, Bank of America upped their target price on shares of Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $139.73.

In related news, major shareholder Holdings L.P. Blackstone III sold 8,700 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $95.08, for a total transaction of $827,196.00. Following the sale, the insider now owns 1,315,899 shares of the company’s stock, valued at approximately $125,115,676.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The shares were acquired at an average cost of $109.69 per share, for a total transaction of $548,450.00. Following the purchase, the director now directly owns 15,942 shares in the company, valued at approximately $1,748,677.98. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,510,050 shares of company stock worth $11,184,437 and sold 1,090,152 shares worth $66,040,454. 1.00% of the stock is owned by company insiders.

BX traded up $2.94 during mid-day trading on Tuesday, reaching $107.64. The stock had a trading volume of 136,268 shares, compared to its average volume of 5,366,181. The stock has a market capitalization of $75.43 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s fifty day simple moving average is $114.55 and its two-hundred day simple moving average is $124.37. Blackstone Inc. has a 52 week low of $85.74 and a 52 week high of $149.78.

Blackstone (NYSE:BXGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.47. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, analysts expect that Blackstone Inc. will post 5.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a $1.32 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $5.28 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Friday, April 29th. Blackstone’s dividend payout ratio (DPR) is currently 71.93%.

Blackstone Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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