Tsfg LLC Sells 267 Shares of Blackstone Inc. (NYSE:BX)

Tsfg LLC cut its stake in Blackstone Inc. (NYSE:BX) by 48.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284 shares of the asset manager’s stock after selling 267 shares during the period. Tsfg LLC’s holdings in Blackstone were worth $37,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Congress Wealth Management LLC DE increased its holdings in Blackstone by 36.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock valued at $4,741,000 after buying an additional 9,699 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Blackstone by 8.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock valued at $48,158,000 after buying an additional 28,856 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Blackstone by 8.9% during the fourth quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock valued at $33,267,000 after acquiring an additional 20,830 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Blackstone in the 4th quarter worth about $855,000. Finally, Asset Management One Co. Ltd. boosted its stake in Blackstone by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock worth $40,348,000 after purchasing an additional 15,875 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.3 %

Shares of NYSE:BX opened at $123.80 on Friday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $133.56. The company has a market capitalization of $88.47 billion, a P/E ratio of 43.75, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a 50-day simple moving average of $122.37 and a 200 day simple moving average of $124.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. Sell-side analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.68%. Blackstone’s payout ratio is 117.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Piper Sandler reduced their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. TD Cowen cut their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $123.65.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Blackstone 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.