Embree Financial Group Has $8.04 Million Position in Blackstone Inc. (NYSE:BX)

Embree Financial Group reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,232 shares of the asset manager’s stock after selling 2,250 shares during the quarter. Blackstone makes up approximately 1.6% of Embree Financial Group’s portfolio, making the stock its 13th largest position. Embree Financial Group’s holdings in Blackstone were worth $8,044,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Blackstone by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 62,972,648 shares of the asset manager’s stock valued at $8,244,379,000 after acquiring an additional 880,745 shares in the last quarter. Capital World Investors raised its position in shares of Blackstone by 4.2% in the fourth quarter. Capital World Investors now owns 33,738,986 shares of the asset manager’s stock valued at $4,417,140,000 after purchasing an additional 1,367,581 shares during the period. Brown Advisory Inc. raised its stake in Blackstone by 5.3% during the 4th quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock valued at $841,783,000 after purchasing an additional 322,860 shares during the last quarter. Norges Bank acquired a new position in Blackstone during the 4th quarter valued at $708,859,000. Finally, International Assets Investment Management LLC raised its stake in Blackstone by 13,816.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after purchasing an additional 3,597,828 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 2.4 %

Shares of NYSE:BX traded up $2.96 during midday trading on Wednesday, hitting $124.24. The stock had a trading volume of 1,975,729 shares, compared to its average volume of 3,431,545. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The business’s 50-day simple moving average is $122.59 and its 200-day simple moving average is $124.24. The company has a market cap of $88.79 billion, a P/E ratio of 43.90, a PEG ratio of 1.01 and a beta of 1.50.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $0.97 earnings per share. The firm’s revenue was up 166.9% on a year-over-year basis. On average, sell-side analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed 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 of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.67%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. TD Cowen decreased their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Barclays reiterated an “equal weight” rating and issued a $125.00 price target (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Argus raised their target price on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler dropped their target price on shares of Blackstone from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $122.94.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone 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.