SeaCrest Wealth Management LLC Has $1.24 Million Stake in Blackstone Inc. (NYSE:BX)

SeaCrest Wealth Management LLC decreased its position in Blackstone Inc. (NYSE:BX) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,418 shares of the asset manager’s stock after selling 4,966 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Blackstone were worth $1,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Financial Advisors acquired a new position in Blackstone during the fourth quarter worth $25,000. Bourgeon Capital Management LLC increased its position in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc acquired a new position in Blackstone during the fourth quarter valued at approximately $30,000. Advantage Trust Co acquired a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 0.8 %

BX opened at $123.20 on Wednesday. The company has a 50-day simple moving average of $122.38 and a 200 day simple moving average of $124.49. The stock has a market capitalization of $88.04 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 1.04 and a beta of 1.50. 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 Inc. has a twelve month low of $88.59 and a twelve month high of $133.56.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $0.97 EPS. The company’s revenue was up 166.9% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Buying and Selling at Blackstone

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

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. TD Cowen dropped their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Bank of America reduced 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. Barclays reaffirmed an “equal weight” rating and issued a $125.00 price objective (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Morgan Stanley increased their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler decreased their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.65.

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.