Integrated Advisors Network LLC Decreases Stock Position in Blackstone Inc. $BX

Integrated Advisors Network LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 11.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,739 shares of the asset manager’s stock after selling 26,037 shares during the quarter. Blackstone accounts for 1.2% of Integrated Advisors Network LLC’s portfolio, making the stock its 13th largest position. Integrated Advisors Network LLC’s holdings in Blackstone were worth $22,278,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have commented on BX shares. Rothschild & Co Redburn decreased their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Evercore restated an “outperform” rating and set a $150.00 price target on shares of Blackstone in a research note on Tuesday, April 21st. HSBC reduced their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Barclays decreased their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a report on Monday, June 8th. They issued a “buy” rating for the company. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.36.

Insider Buying and Selling

In related news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of Blackstone stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the transaction, the insider owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 10,252,345 shares of company stock worth $209,789,893 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Trading Down 1.2%

Shares of NYSE BX opened at $121.91 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market cap of $90.57 billion, a PE ratio of 31.18, a P/E/G ratio of 1.33 and a beta of 1.58. The company has a 50-day moving average of $119.67 and a two-hundred day moving average of $127.87. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is currently 118.67%.

About Blackstone

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.