6,346 Shares in Blackstone Inc. (NYSE:BX) Bought by Inscription Capital LLC

Inscription Capital LLC acquired a new position in Blackstone Inc. (NYSE:BX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,346 shares of the asset manager’s stock, valued at approximately $834,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $63,109,000. Parallel Advisors LLC raised its stake in Blackstone by 6.6% during the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock worth $4,363,000 after buying an additional 1,943 shares during the period. Comprehensive Money Management Services LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $1,747,000. Vanguard Group Inc. increased its holdings in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Blackstone by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 716,319 shares of the asset manager’s stock worth $123,508,000 after purchasing an additional 5,951 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.9%

BX opened at $135.65 on Wednesday. The company’s 50-day moving average price is $136.83 and its two-hundred day moving average price is $154.88. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock has a market cap of $98.97 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 1.27 and a beta of 1.65.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm 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 2.74%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is currently 112.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cowen restated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Citigroup dropped their price target on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Piper Sandler cut their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $155.65.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 237 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, 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 disclosure for this sale can be found here. 1.00% of the stock is currently 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.