Blackstone Inc. (NYSE:BX) Shares Sold by Chapin Davis Inc.

Chapin Davis Inc. trimmed its stake in Blackstone Inc. (NYSE:BX) by 5.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,481 shares of the asset manager’s stock after selling 640 shares during the quarter. Chapin Davis Inc.’s holdings in Blackstone were worth $1,377,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BX. Acadian Asset Management LLC grew its holdings in shares of Blackstone by 111.0% during the 3rd quarter. Acadian Asset Management LLC now owns 5,071 shares of the asset manager’s stock worth $541,000 after purchasing an additional 2,668 shares during the period. Federated Hermes Inc. raised its stake in shares of Blackstone by 6,500.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,828 shares of the asset manager’s stock valued at $410,000 after acquiring an additional 3,770 shares during the period. Natixis Advisors L.P. boosted its position in Blackstone by 158.9% during the 3rd quarter. Natixis Advisors L.P. now owns 50,351 shares of the asset manager’s stock worth $5,395,000 after purchasing an additional 30,905 shares during the period. Bank of Nova Scotia raised its position in Blackstone by 141.5% in the third quarter. Bank of Nova Scotia now owns 81,279 shares of the asset manager’s stock valued at $8,712,000 after purchasing an additional 47,621 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Blackstone in the third quarter worth about $386,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BX shares. Bank of America decreased their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. TD Cowen lowered their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Barclays restated an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. JPMorgan Chase & Co. reduced their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Morgan Stanley increased their target price on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 0.4 %

Shares of NYSE:BX opened at $124.25 on Monday. The company has a market cap of $88.80 billion, a PE ratio of 43.75, a P/E/G ratio of 1.04 and a beta of 1.50. The company’s 50-day moving average price is $122.37 and its 200 day moving average price is $124.53. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion during 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%. The business’s revenue was up 166.9% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.67%. Blackstone’s dividend payout ratio is currently 117.31%.

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.