Van Cleef Asset Management Inc Has $766,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Van Cleef Asset Management Inc decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,850 shares of the asset manager’s stock after selling 164 shares during the period. Van Cleef Asset Management Inc’s holdings in Blackstone were worth $766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bourgeon Capital Management LLC increased its position in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new stake in shares of Blackstone in the 4th quarter valued at $30,000. Exchange Traded Concepts LLC increased its position in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. Family CFO Inc acquired a new position in Blackstone in the 3rd quarter worth $33,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Blackstone in the 4th quarter worth $33,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.4 %

Shares of NYSE:BX traded down $0.51 during mid-day trading on Thursday, reaching $123.27. 3,616,532 shares of the company’s stock were exchanged, compared to its average volume of 3,695,260. The firm has a market capitalization of $88.09 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.03 and a beta of 1.51. The business’s fifty day moving average price is $126.21 and its 200-day moving average price is $118.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, research analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is currently 132.86%.

Analysts Set New Price Targets

BX has been the subject of a number of recent research reports. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Morgan Stanley increased their price objective on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Piper Sandler cut their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Finally, Bank of America cut their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $123.65.

Insider Transactions at Blackstone

In related 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 shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Blackstone 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 shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock valued at $37,816,476 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company 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.