Ieq Capital LLC Sells 14,435 Shares of Blackstone Inc. $BX
by Amy Steele · The Cerbat GemIeq Capital LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 233,692 shares of the asset manager’s stock after selling 14,435 shares during the period. Ieq Capital LLC’s holdings in Blackstone were worth $36,021,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of BX. Brighton Jones LLC raised its holdings in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after buying an additional 177 shares during the period. United Bank raised its stake in Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after buying an additional 1,729 shares during the period. Nebula Research & Development LLC bought a new stake in Blackstone in the second quarter valued at approximately $1,124,000. Finally, Sei Investments Co. raised its stake in Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after buying an additional 8,655 shares during the period. Institutional investors own 70.00% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on BX shares. Royal Bank Of Canada started coverage on Blackstone in a research note on Monday. They issued an “outperform” rating on the stock. Citizens Jmp dropped their price objective on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. UBS Group dropped their price objective on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Sanford C. Bernstein initiated coverage on Blackstone in a research note on Monday. They issued an “outperform” rating on the stock. Finally, TD Cowen lowered their target price on Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.86.
Check Out Our Latest Analysis on BX
Insider Buying and Selling at Blackstone
In related news, Director Ruth Porat purchased 355 shares of Blackstone stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This represents a 0.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 over the last ninety days. 1.00% of the stock is owned by corporate insiders.
Blackstone Price Performance
Shares of NYSE BX opened at $122.63 on Friday. The firm has a market cap of $91.10 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.59. 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 business’s 50 day moving average is $119.98 and its 200-day moving average is $131.03.
Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. Equities research analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone’s dividend payout ratio is currently 118.67%.
About Blackstone
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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