1,748 Shares in Blackstone Inc. (NYSE:BX) Purchased by Delta Financial Advisors LLC

Delta Financial Advisors LLC bought a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,748 shares of the asset manager’s stock, valued at approximately $229,000.

Other large investors have also recently modified their holdings of the company. Fairfield Bush & CO. raised its holdings in shares of Blackstone by 56.1% during the first quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 1,530 shares in the last quarter. United Bank boosted its position in Blackstone by 34.2% in the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 2,153 shares during the last quarter. Yousif Capital Management LLC boosted its position in Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock worth $1,392,000 after purchasing an additional 1,034 shares during the last quarter. Insight Advisors LLC PA raised its stake in shares of Blackstone by 1.6% in the first quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock worth $2,341,000 after buying an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in Blackstone by 12.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after purchasing an additional 4,366 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on 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 of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. TD Cowen began coverage on Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their target price on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, Wells Fargo & Company upped their target price on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $119.97.

Blackstone Stock Down 2.5 %

Shares of BX stock traded down $3.03 during trading hours on Thursday, hitting $120.16. 2,879,631 shares of the company were exchanged, compared to its average volume of 3,682,777. The business has a 50 day moving average of $126.81 and a two-hundred day moving average of $117.64. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56. The company has a market capitalization of $85.87 billion, a PE ratio of 67.32, a PEG ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. Analysts anticipate that Blackstone Inc. will post 4.88 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.76%. Blackstone’s payout ratio is currently 205.46%.

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.