Collective Family Office LLC Sells 2,450 Shares of Blackstone Inc. (NYSE:BX)

Collective Family Office LLC trimmed its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 47.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,750 shares of the asset manager’s stock after selling 2,450 shares during the quarter. Collective Family Office LLC’s holdings in Blackstone were worth $204,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Colony Group LLC lifted its holdings in Blackstone by 0.7% in the 2nd quarter. Colony Group LLC now owns 14,333 shares of the asset manager’s stock worth $1,308,000 after purchasing an additional 95 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Blackstone by 2.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,799 shares of the asset manager’s stock worth $402,000 after purchasing an additional 100 shares in the last quarter. Capital Analysts LLC increased its stake in Blackstone by 11.7% in the 2nd quarter. Capital Analysts LLC now owns 966 shares of the asset manager’s stock worth $88,000 after acquiring an additional 101 shares during the last quarter. MONECO Advisors LLC increased its stake in Blackstone by 0.7% in the 3rd quarter. MONECO Advisors LLC now owns 16,696 shares of the asset manager’s stock worth $1,397,000 after acquiring an additional 108 shares during the last quarter. Finally, Verus Capital Partners LLC increased its stake in Blackstone by 2.3% in the 3rd quarter. Verus Capital Partners LLC now owns 5,445 shares of the asset manager’s stock worth $456,000 after acquiring an additional 120 shares during the last quarter. 62.39% of the stock is currently owned by institutional investors.

Blackstone Trading Down 2.7 %

Shares of NYSE BX opened at $84.89 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $59.96 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 1.89 and a beta of 1.52. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $132.93. The business has a fifty day moving average price of $89.93 and a 200 day moving average price of $88.03.

Blackstone (NYSE:BX – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The asset manager reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. During the same period in the prior year, the business posted $1.71 EPS. Equities research analysts expect that Blackstone Inc. will post 4.66 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Monday, February 6th were paid a dividend of $0.91 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, February 3rd. Blackstone’s dividend payout ratio is 153.59%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BX. Wells Fargo & Company lifted their price objective on Blackstone from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. StockNews.com began coverage on Blackstone in a report on Thursday. They set a “sell” rating for the company. Morgan Stanley boosted their price objective on Blackstone from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, January 30th. BMO Capital Markets boosted their price objective on Blackstone from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Friday, January 27th. Finally, The Goldman Sachs Group boosted their price objective on Blackstone from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.33.

Insider Activity at Blackstone

In related news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $8.71, for a total transaction of $248,780,698.92. Following the transaction, the insider now directly owns 57,028 shares of the company’s stock, valued at approximately $496,713.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Holdings L.P. Blackstone III sold 205,500 shares of the stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $33.00, for a total value of $6,781,500.00. Following the transaction, the insider now directly owns 9,844,228 shares of the company’s stock, valued at $324,859,524. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $8.71, for a total value of $248,780,698.92. Following the completion of the transaction, the insider now directly owns 57,028 shares in the company, valued at $496,713.88. The disclosure for this sale can be found here. Insiders have sold 140,532,616 shares of company stock valued at $1,726,902,967 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.