Shepherd Financial Partners LLC Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

Shepherd Financial Partners LLC cut its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,359 shares of the asset manager’s stock after selling 422 shares during the quarter. Blackstone accounts for 0.5% of Shepherd Financial Partners LLC’s investment portfolio, making the stock its 29th largest position. Shepherd Financial Partners LLC’s holdings in Blackstone were worth $3,844,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Northwest Financial Advisors acquired a new stake in Blackstone in the fourth quarter valued at approximately $25,000. Bourgeon Capital Management LLC lifted its position in shares of 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. Roble Belko & Company Inc purchased a new position in Blackstone in the fourth quarter valued at $30,000. Advantage Trust Co purchased a new stake in Blackstone during the 4th quarter worth about $30,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several research reports. Piper Sandler dropped their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TD Cowen lowered their target price 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. Barclays reiterated an “equal weight” rating and set a $125.00 price target (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, Argus lifted their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.65.

Check Out Our Latest Report on BX

Blackstone Stock Up 1.0 %

Shares of BX stock traded up $1.17 during mid-day trading on Friday, reaching $120.50. 3,636,412 shares of the company were exchanged, compared to its average volume of 3,203,114. The company has a market capitalization of $86.12 billion, a P/E ratio of 42.58, a P/E/G ratio of 1.01 and a beta of 1.52. The business’s 50 day simple moving average is $124.17 and its 200 day simple moving average is $122.77. 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 Inc. has a fifty-two week low of $82.54 and a fifty-two week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last released its 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 the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.76%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

About Blackstone

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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