SeaCrest Wealth Management LLC Sells 1,488 Shares of Blackstone Inc. (NYSE:BX)

SeaCrest Wealth Management LLC decreased its position in Blackstone Inc. (NYSE:BX) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,384 shares of the asset manager’s stock after selling 1,488 shares during the period. SeaCrest Wealth Management LLC’s holdings in Blackstone were worth $1,758,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Halpern Financial Inc. grew its stake in Blackstone by 327.1% in the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Blackstone in the second quarter valued at approximately $25,000. Finally, Family CFO Inc bought a new stake in Blackstone in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 in the last quarter. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen started coverage on shares of Blackstone in a research report on Thursday, January 4th. They set a “market perform” rating and a $118.00 target price on the stock. BMO Capital Markets raised their target price on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their price target on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Finally, Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $119.53.

Blackstone Stock Up 0.4 %

BX traded up $0.49 during midday trading on Thursday, hitting $131.38. The company had a trading volume of 3,132,485 shares, compared to its average volume of 3,809,886. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $125.60 and its 200 day moving average price is $116.00. The company has a market capitalization of $93.89 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a 52 week low of $79.29 and a 52 week high of $133.56.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter last year, the firm posted $1.07 earnings per share. On average, research analysts anticipate that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a dividend of $0.94 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

About Blackstone

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.