Beaumont Financial Advisors LLC Grows Stake in Blackstone Inc. (NYSE:BX)

Beaumont Financial Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,280 shares of the asset manager’s stock after acquiring an additional 148 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Blackstone were worth $1,477,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WASHINGTON TRUST Co increased its holdings in shares of Blackstone by 7.0% in the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after acquiring an additional 7,907 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Blackstone by 5.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares during the period. Chicago Capital LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at about $3,734,000. Kampmann Melissa S. acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $2,314,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Blackstone by 1,722.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after purchasing an additional 476,768 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 1.6 %

Shares of BX opened at $118.40 on Friday. The stock’s 50-day moving average is $126.47 and its two-hundred day moving average is $117.74. The stock has a market cap of $84.61 billion, a PE ratio of 41.84, a P/E/G ratio of 0.99 and a beta of 1.51. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Equities analysts forecast that Blackstone Inc. will post 4.86 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s payout ratio is 132.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on BX shares. TheStreet cut Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. TD Cowen cut their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday. Piper Sandler decreased their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $118.92.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ruth Porat acquired 232 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the acquisition, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is currently owned by insiders.

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.