1,951 Shares in Blackstone Inc. (NYSE:BX) Bought by Bellecapital International Ltd.

Bellecapital International Ltd. purchased a new stake in Blackstone Inc. (NYSE:BX) during the first quarter, HoldingsChannel reports. The institutional investor purchased 1,951 shares of the asset manager’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone in the 4th quarter valued at $33,000. Roxbury Financial LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $34,000. Bernard Wealth Management Corp. bought a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Finally, Putney Financial Group LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research analyst reports. TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their target price on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Piper Sandler decreased their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. Finally, Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $155.65.

Blackstone Stock Performance

Shares of Blackstone stock opened at $141.53 on Thursday. The company has a 50 day moving average of $135.85 and a 200-day moving average of $156.59. The company has a market cap of $103.27 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. 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.

Blackstone (NYSE:BX) last issued 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.63%. Blackstone’s dividend payout ratio is currently 112.05%.

Insider Activity

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Company 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.