Blackstone Inc. $BX Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,406 shares of the asset manager’s stock after selling 8,381 shares during the quarter. Blackstone accounts for 1.0% of KCM Investment Advisors LLC’s portfolio, making the stock its 28th largest position. KCM Investment Advisors LLC’s holdings in Blackstone were worth $32,740,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in Blackstone in the 4th quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at $30,000. Finally, Strive Asset Management LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BX shares. Barclays lowered their price target on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley lowered their price target on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a research report on Monday, June 8th. They set a “buy” rating on the stock. Rothschild & Co Redburn lowered their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Finally, Citizens Jmp lowered their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Thirteen investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This represents a 18.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction 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 completion of the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $122.63 on Friday. The stock has a market cap of $91.10 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.59. The business has a fifty day simple moving average of $119.98 and a 200-day simple moving average of $131.03. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Blackstone 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.