Blackstone Inc. (NYSE:BX) Shares Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC increased its stake in Blackstone Inc. (NYSE:BX) by 4.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 531,780 shares of the asset manager’s stock after purchasing an additional 22,021 shares during the quarter. Blackstone comprises about 11.5% of Sanders Morris Harris LLC’s holdings, making the stock its 2nd largest position. Sanders Morris Harris LLC’s holdings in Blackstone were worth $74,383,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BX. Rhumbline Advisers grew its stake in Blackstone by 2.2% during the 1st quarter. Rhumbline Advisers now owns 1,325,499 shares of the asset manager’s stock valued at $185,278,000 after purchasing an additional 28,502 shares in the last quarter. Aletheian Wealth Advisors LLC acquired a new stake in Blackstone during the 1st quarter valued at approximately $287,000. Fifth Third Wealth Advisors LLC grew its stake in Blackstone by 3.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,459 shares of the asset manager’s stock valued at $1,182,000 after purchasing an additional 313 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its stake in Blackstone by 13.7% during the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 1,566 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 189 shares in the last quarter. Finally, Avondale Wealth Management grew its stake in Blackstone by 20.0% during the 1st quarter. Avondale Wealth Management now owns 2,100 shares of the asset manager’s stock valued at $294,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ruth Porat acquired 237 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now directly owns 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 0.3%

Shares of NYSE BX opened at $138.45 on Friday. The company has a market cap of $101.02 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $135.83 and its 200 day simple moving average is $159.00.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business posted $0.98 EPS. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS 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 paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s payout ratio is currently 112.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Citigroup decreased their target price on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Piper Sandler decreased 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. Finally, UBS Group decreased their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $155.65.

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.