Total Wealth Planning & Management Inc. Takes Position in Blackstone Inc. (NYSE:BX)

Total Wealth Planning & Management Inc. bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,441 shares of the asset manager’s stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone during the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on BX shares. JMP Securities restated a “market outperform” rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Piper Sandler cut their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Cowen restated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $155.65.

Blackstone Price Performance

Shares of NYSE BX opened at $136.23 on Tuesday. The firm has a market cap of $99.40 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business’s 50 day moving average is $136.75 and its 200-day moving average is $160.04.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business earned $0.98 EPS. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

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.