Cwm LLC Sells 18,670 Shares of Blackstone Inc. (NYSE:BX)

Cwm LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 37.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,773 shares of the asset manager’s stock after selling 18,670 shares during the period. Cwm LLC’s holdings in Blackstone were worth $4,029,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bourgeon Capital Management LLC raised its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC grew 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 acquiring an additional 206 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Blackstone during the 4th quarter worth about $33,000. Family CFO Inc acquired a new stake in Blackstone during the 3rd quarter worth about $33,000. Finally, Provence Wealth Management Group acquired a new stake in Blackstone during the 3rd quarter worth about $36,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BX. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Piper Sandler reduced their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their price target on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and lifted their price target for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, TD Cowen cut their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $122.94.

Blackstone Trading Up 1.7 %

NYSE:BX opened at $124.22 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $88.77 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 0.98 and a beta of 1.51. The firm’s 50 day moving average is $126.30 and its 200 day moving average is $118.20. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. Blackstone’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. Sell-side analysts expect that Blackstone Inc. will post 4.82 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.67%. Blackstone’s dividend payout ratio is 132.86%.

Insider Activity at Blackstone

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 completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’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 completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. Corporate insiders own 1.00% of the company’s stock.

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.