TBH Global Asset Management LLC Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

TBH Global Asset Management LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,479 shares of the asset manager’s stock after selling 600 shares during the period. TBH Global Asset Management LLC’s holdings in Blackstone were worth $1,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Team Hewins LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $1,950,000. TCW Group Inc. lifted its holdings in shares of Blackstone by 13.5% during the fourth quarter. TCW Group Inc. now owns 158,856 shares of the asset manager’s stock valued at $20,822,000 after purchasing an additional 18,928 shares in the last quarter. Commerce Bank lifted its holdings in shares of Blackstone by 9.1% during the fourth quarter. Commerce Bank now owns 35,241 shares of the asset manager’s stock valued at $4,614,000 after purchasing an additional 2,946 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at $220,000. Finally, US Bancorp DE lifted its holdings in shares of Blackstone by 2.8% during the fourth quarter. US Bancorp DE now owns 160,073 shares of the asset manager’s stock valued at $20,957,000 after purchasing an additional 4,401 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Argus increased their target price on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets raised their price target on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their price target on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Morgan Stanley raised their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods raised their price target on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $123.65.

Insiders Place Their Bets

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 0.4 %

BX stock traded up $0.53 on Friday, hitting $123.64. 1,805,605 shares of the company’s stock were exchanged, compared to its average volume of 3,627,000. Blackstone Inc. has a 12-month low of $81.94 and a 12-month high of $133.56. The firm has a 50 day moving average price of $124.88 and a two-hundred day moving average price of $121.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $88.36 billion, a P/E ratio of 43.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, equities research analysts expect that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.69%. Blackstone’s dividend payout ratio is currently 117.31%.

About Blackstone

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.