Atalanta Sosnoff Capital LLC Has $407,000 Stock Holdings in Blackstone Inc. $BX

Atalanta Sosnoff Capital LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 99.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,641 shares of the asset manager’s stock after selling 411,116 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Blackstone were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Brighton Jones LLC boosted its stake in 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 acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after buying an additional 177 shares during the last quarter. United Bank raised its holdings in Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after buying an additional 1,729 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Blackstone during the second quarter worth $1,124,000. Finally, Sei Investments Co. raised its holdings in Blackstone by 1.9% during the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after buying an additional 8,655 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, insider Vikrant Sawhney sold 30,014 shares of Blackstone 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 owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BX. Evercore reiterated an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Oppenheimer increased their price target on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. The Goldman Sachs Group reduced their price target on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. TD Cowen reduced their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research report on Monday. They set a “buy” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.86.

Blackstone Stock Up 1.5%

Shares of NYSE BX opened at $122.63 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The firm’s fifty day moving average is $119.98 and its 200 day moving average is $131.03. The company has a market cap of $91.10 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.31 and a beta of 1.59.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

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