Blackstone Inc. (NYSE:BX) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Posted by Ethan Ryder on Apr 18th, 2024

Investors Asset Management of Georgia Inc. GA ADV reduced its position in Blackstone Inc. (NYSE:BX – cindyrodriguezcopywriting.com
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weight:normal;text-decoration:italic;color:green” href=”https://www.marketbeat.com/arnreports/ReportTickerOptin.aspx?RegistrationCode=TickerHyperlink&Prefix=NYSE&Symbol=BX”>Free Report) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,504 shares of the asset manager’s stock after selling 1,454 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $1,637,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BX. Delta Financial Advisors LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $229,000. OLD Second National Bank of Aurora boosted its stake in shares of Blackstone by 1.5% in the 4th quarter. OLD Second National Bank of Aurora now owns 35,788 shares of the asset manager’s stock valued at $4,685,000 after buying an additional 523 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Blackstone by 98.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,586 shares of the asset manager’s stock valued at $208,000 after buying an additional 786 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Blackstone by 11.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 69,471 shares of the asset manager’s stock valued at $9,095,000 after buying an additional 7,159 shares during the period. Finally, Scissortail Wealth Management LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $266,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ruth Porat acquired 232 shares of Blackstone stock in a transaction dated Monday, February 12th. The shares were acquired 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 directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ruth Porat acquired 232 shares of Blackstone stock in a transaction dated Monday, February 12th. The shares were acquired 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 directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BX shares. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company boosted their price objective on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. TD Cowen assumed coverage on Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price on the stock. UBS Group boosted their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Bank of America boosted their target price on Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.97.

Get Our Latest Report on Blackstone

Blackstone Price Performance

BX stock traded down $3.71 on Thursday, reaching $119.48. 3,784,354 shares of the company’s stock were exchanged, compared to its average volume of 3,695,160. 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 firm has a market cap of $85.39 billion, a PE ratio of 67.32, a P/E/G ratio of 0.99 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The stock has a fifty day moving average of $126.81 and a 200-day moving average of $117.64.

Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.02). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, equities analysts predict that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.78%. Blackstone’s dividend payout ratio (DPR) is 205.46%.

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.