Blackstone Inc. (NYSE:BX) is Fishman Jay A Ltd. MI’s 5th Largest Position

Fishman Jay A Ltd. MI lowered its position in Blackstone Inc. (NYSE:BX) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,995 shares of the asset manager’s stock after selling 27,305 shares during the period. Blackstone comprises about 5.9% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 5th largest position. Fishman Jay A Ltd. MI owned about 0.05% of Blackstone worth $54,374,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Blackstone in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. purchased a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Putney Financial Group LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Finally, WFA Asset Management Corp purchased a new stake in Blackstone in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Morgan Stanley decreased their target price on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Piper Sandler decreased their target price 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 raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. Finally, Citigroup dropped their target price on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $155.65.

Blackstone Trading Down 0.0%

Blackstone stock opened at $137.45 on Friday. The firm has a 50 day moving average of $137.23 and a 200 day moving average of $154.08. The firm has a market capitalization of $100.29 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 1.26 and a beta of 1.65. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $0.98 earnings per share. As a group, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 25,000 shares of Blackstone 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 sale, the insider now owns 475,336 shares of the company’s stock, valued at approximately $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 insiders.

About Blackstone

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.