Constellation Investimentos e Participacoes Ltda Sells 950 Shares of Blackstone Inc. (NYSE:BX)

Constellation Investimentos e Participacoes Ltda trimmed its position in Blackstone Inc. (NYSE:BX) by 34.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,815 shares of the asset manager’s stock after selling 950 shares during the quarter. Blackstone comprises about 0.7% of Constellation Investimentos e Participacoes Ltda’s portfolio, making the stock its 10th biggest holding. Constellation Investimentos e Participacoes Ltda’s holdings in Blackstone were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, WFA Asset Management Corp acquired a new position in shares of Blackstone during the 1st quarter worth approximately $38,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Cowen reiterated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. TD Cowen decreased their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their price objective on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $155.65.

Blackstone Stock Up 1.2%

Blackstone stock opened at $138.06 on Tuesday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock’s fifty day simple moving average is $136.88 and its 200-day simple moving average is $155.02. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $100.73 billion, a P/E ratio of 38.03, a P/E/G ratio of 1.07 and a beta of 1.65.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.69%. Blackstone’s payout ratio is currently 112.05%.

Blackstone Company Profile

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.