Blackstone Inc. (NYSE:BX) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 9.2% during the 1st quarter, HoldingsChannel reports. The firm owned 14,300 shares of the asset manager’s stock after buying an additional 1,200 shares during the period. Spirit of America Management Corp NY’s holdings in Blackstone were worth $1,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Norges Bank acquired a new stake in Blackstone during the 4th quarter worth $974,448,000. Raymond James Financial Inc. acquired a new position in shares of Blackstone during the 4th quarter valued at about $316,257,000. Capital Research Global Investors acquired a new position in shares of Blackstone during the 4th quarter valued at about $239,837,000. GAMMA Investing LLC boosted its position in shares of Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock valued at $184,873,000 after acquiring an additional 1,313,606 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Blackstone by 1.3% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Keefe, Bruyette & Woods lowered 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. Wells Fargo & Company boosted their price objective on shares of Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. Morgan Stanley reduced their price objective 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. Cowen restated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Finally, Bank of America reduced their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $155.65.

Insider Buying and Selling

In related news, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction that occurred 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 represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the 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 completion of the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This 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.

Blackstone Stock Up 1.2%

Shares of NYSE:BX opened at $137.28 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $100.16 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.26 and a beta of 1.65. The firm’s 50-day moving average is $137.03 and its two-hundred day moving average is $154.42. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last released its earnings results 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). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.71%. Blackstone’s payout ratio is 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.