Opinicus Capital Inc. Has $1.92 Million Holdings in Blackstone Inc. (NYSE:BX)

Opinicus Capital Inc. reduced its stake in Blackstone Inc. (NYSE:BX) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,707 shares of the asset manager’s stock after selling 267 shares during the period. Blackstone comprises approximately 1.7% of Opinicus Capital Inc.’s investment portfolio, making the stock its 14th largest position. Opinicus Capital Inc.’s holdings in Blackstone were worth $1,916,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Blackstone in the first quarter valued at approximately $201,000. Osprey Private Wealth LLC increased its position in Blackstone by 13.3% in the 1st quarter. Osprey Private Wealth LLC now owns 14,925 shares of the asset manager’s stock valued at $2,086,000 after acquiring an additional 1,750 shares during the period. RMR Wealth Builders lifted its holdings in shares of Blackstone by 9.6% during the first quarter. RMR Wealth Builders now owns 20,023 shares of the asset manager’s stock worth $2,799,000 after purchasing an additional 1,752 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in Blackstone by 2.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 24,593 shares of the asset manager’s stock valued at $3,438,000 after purchasing an additional 607 shares during the period. Finally, Union Bancaire Privee UBP SA raised its position in Blackstone by 145.8% during the 1st quarter. Union Bancaire Privee UBP SA now owns 7,004 shares of the asset manager’s stock worth $979,000 after purchasing an additional 4,154 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Barclays raised their price objective on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Piper Sandler decreased their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, 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 report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $155.65.

Blackstone Stock Down 0.5%

BX stock opened at $140.68 on Friday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $102.65 billion, a PE ratio of 38.75, a P/E/G ratio of 1.07 and a beta of 1.65. The stock’s 50 day moving average is $136.18 and its 200-day moving average is $156.23.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion for 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 in the prior year, the business earned $0.98 EPS. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is 112.05%.

Insider Activity

In other news, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares of the company’s stock, valued at $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, 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. Insiders own 1.00% of the company’s stock.

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.