Cyndeo Wealth Partners LLC Has $3.94 Million Position in Blackstone Inc. (NYSE:BX)

Cyndeo Wealth Partners LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,174 shares of the asset manager’s stock after purchasing an additional 342 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Blackstone were worth $3,938,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after acquiring an additional 62 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its position in shares of Blackstone by 0.9% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 8,110 shares of the asset manager’s stock worth $1,398,000 after acquiring an additional 74 shares in the last quarter. Ascent Group LLC boosted its position in Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager’s stock valued at $1,469,000 after buying an additional 74 shares in the last quarter. Global Assets Advisory LLC increased its holdings in Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager’s stock worth $697,000 after purchasing an additional 75 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager’s stock valued at $1,460,000 after buying an additional 78 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BX. Bank of America decreased their target price on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Citigroup reduced their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. TD Cowen cut their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays raised their price objective on Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Finally, Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $155.65.

Blackstone Stock Down 3.1%

Shares of BX opened at $136.37 on Monday. The firm has a market cap of $99.50 billion, a P/E ratio of 37.57, a P/E/G ratio of 1.07 and a beta of 1.65. The stock has a 50 day simple moving average of $136.51 and a two-hundred day simple moving average of $155.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for 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 period last year, the company posted $0.98 EPS. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a dividend of $0.93 per share. 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 (DPR) is presently 112.05%.

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.