Howard Capital Management Group LLC Cuts Stock Position in Blackstone Inc. (NYSE:BX)

Howard Capital Management Group LLC lowered its stake in Blackstone Inc. (NYSE:BXFree Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 304,214 shares of the asset manager’s stock after selling 3,531 shares during the quarter. Blackstone comprises approximately 3.5% of Howard Capital Management Group LLC’s investment portfolio, making the stock its 7th biggest holding. Howard Capital Management Group LLC’s holdings in Blackstone were worth $39,828,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. raised its stake in shares of Blackstone by 56.1% during the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock worth $540,000 after purchasing an additional 1,530 shares in the last quarter. United Bank grew its holdings in Blackstone by 34.2% during the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 2,153 shares during the period. Yousif Capital Management LLC raised its stake in Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 1,034 shares during the period. Insight Advisors LLC PA boosted its stake in shares of Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock worth $2,341,000 after acquiring an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in Blackstone by 12.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after acquiring an additional 4,366 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Ruth Porat acquired 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the transaction, the director now owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BX shares. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Wells Fargo & Company increased their target price on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods increased their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TD Cowen began coverage on shares of Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. Finally, UBS Group lifted their price objective on shares of Blackstone from $134.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $119.53.

Check Out Our Latest Research Report on BX

Blackstone Price Performance

Shares of NYSE BX opened at $128.81 on Tuesday. The stock’s 50 day moving average price is $124.93 and its 200-day moving average price is $115.65. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $92.05 billion, a PE ratio of 70.39, a PEG ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.29 and a twelve month high of $133.56.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter last year, the business earned $1.07 earnings per share. On average, equities analysts anticipate that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were issued a dividend of $0.94 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.92%. Blackstone’s dividend payout ratio is 205.46%.

Blackstone Company Profile

(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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