IHT Wealth Management LLC Reduces Position in Blackstone Inc. (NYSE:BX)

IHT Wealth Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 31.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,662 shares of the asset manager's stock after selling 4,506 shares during the period. IHT Wealth Management LLC's holdings in Blackstone were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Blackstone during the fourth quarter worth $974,448,000. Raymond James Financial Inc. bought a new stake in Blackstone during the 4th quarter valued at about $316,257,000. Capital Research Global Investors bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $239,837,000. Vanguard Group Inc. grew its stake in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. Finally, FMR LLC raised its position in Blackstone by 38.8% during the 4th quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock valued at $515,577,000 after purchasing an additional 835,170 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

Shares of BX opened at $124.89 on Wednesday. The stock has a 50-day moving average of $143.60 and a two-hundred day moving average of $164.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market cap of $91.10 billion, a P/E ratio of 34.40, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business 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 business posted $0.98 earnings per share. As a group, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.98%. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research report on Monday. Bank of America cut their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.72.

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.

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