Silvercrest Asset Management Group LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Silvercrest Asset Management Group LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,196 shares of the asset manager’s stock after selling 2,241 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Blackstone were worth $32,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC raised its position in Blackstone by 694.7% during the first quarter. SVB Wealth LLC now owns 152,376 shares of the asset manager’s stock valued at $20,018,000 after purchasing an additional 133,203 shares in the last quarter. Transcendent Capital Group LLC boosted its position in Blackstone by 2,554.4% during the 1st quarter. Transcendent Capital Group LLC now owns 13,272 shares of the asset manager’s stock valued at $1,744,000 after acquiring an additional 12,772 shares in the last quarter. Morse Asset Management Inc raised its holdings in Blackstone by 26.1% in the 1st quarter. Morse Asset Management Inc now owns 11,142 shares of the asset manager’s stock worth $1,464,000 after acquiring an additional 2,305 shares during the last quarter. Bamco Inc. NY raised its stake in Blackstone by 8.9% during the 1st quarter. Bamco Inc. NY now owns 798,377 shares of the asset manager’s stock valued at $104,883,000 after buying an additional 65,143 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Blackstone by 39.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,345,005 shares of the asset manager’s stock valued at $176,695,000 after acquiring an additional 383,827 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX traded down $0.47 during trading hours on Tuesday, reaching $140.51. 1,380,499 shares of the company traded hands, compared to its average volume of 3,533,158. The stock has a market capitalization of $100.42 billion, a P/E ratio of 49.82, a P/E/G ratio of 1.21 and a beta of 1.50. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $145.16. The business has a fifty day moving average price of $126.10 and a 200-day moving average price of $125.19.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.33%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BX shares. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. UBS Group upped their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Argus increased their price objective on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $127.56.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction 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 approximately $113,305,632. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of 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. Insiders own 1.00% of the company’s stock.

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.