Veracity Capital LLC Has $458,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Veracity Capital LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,280 shares of the asset manager’s stock after selling 392 shares during the quarter. Veracity Capital LLC’s holdings in Blackstone were worth $458,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new position in Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone in the fourth quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone in the fourth quarter worth approximately $34,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Blackstone in the fourth quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their price objective on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. TD Cowen dropped their price target on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price target on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Finally, Morgan Stanley cut their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $155.65.

Insider Activity

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

Blackstone Price Performance

Shares of NYSE BX opened at $139.02 on Wednesday. The stock has a fifty day simple moving average of $135.55 and a two-hundred day simple moving average of $158.41. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 38.30, 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 (NYSE:BX) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 analysts’ expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the firm posted $0.98 earnings per share. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

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.