Kercheville Advisors LLC Has $3.24 Million Stock Holdings in Blackstone Inc. $BX

Kercheville Advisors LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 16.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 28,160 shares of the asset manager’s stock after selling 5,691 shares during the period. Kercheville Advisors LLC’s holdings in Blackstone were worth $3,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Brighton Jones LLC boosted its position in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after buying an additional 177 shares in the last quarter. United Bank boosted its holdings in shares of Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Blackstone during the 2nd quarter worth $1,124,000. Finally, Sei Investments Co. increased its holdings in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 9,487,234 shares of company stock valued at $189,789,892 over the last 90 days. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

NYSE:BX opened at $120.12 on Wednesday. The company has a market capitalization of $89.23 billion, a PE ratio of 30.72, a P/E/G ratio of 1.34 and a beta of 1.59. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day simple moving average of $121.33 and a two-hundred day simple moving average of $129.86.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the firm posted $1.11 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Sanford C. Bernstein started coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. BMO Capital Markets lifted their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada assumed coverage on shares of Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.86.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.