Blackstone Inc. (NYSE:BX) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC boosted its position in Blackstone Inc. (NYSE:BX) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,915 shares of the asset manager’s stock after purchasing an additional 178 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Blackstone were worth $4,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Proactive Wealth Strategies LLC increased its stake in shares of Blackstone by 2.7% during the 1st quarter. Proactive Wealth Strategies LLC now owns 19,411 shares of the asset manager’s stock valued at $2,713,000 after acquiring an additional 509 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of Blackstone by 1.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 386,565 shares of the asset manager’s stock valued at $54,034,000 after acquiring an additional 5,638 shares during the last quarter. Embree Financial Group increased its stake in shares of Blackstone by 2.6% during the 1st quarter. Embree Financial Group now owns 63,050 shares of the asset manager’s stock valued at $8,813,000 after acquiring an additional 1,587 shares during the last quarter. Davidson Kahn Capital Management LLC increased its stake in shares of Blackstone by 40.9% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 11,043 shares of the asset manager’s stock valued at $1,544,000 after acquiring an additional 3,203 shares during the last quarter. Finally, Lazari Capital Management Inc. purchased a new stake in shares of Blackstone during the 1st quarter worth about $218,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

BX stock opened at $138.30 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm has a market cap of $100.91 billion, a P/E ratio of 41.66, 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 stock’s 50 day simple moving average is $137.39 and its 200 day simple moving average is $153.29.

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

Blackstone Cuts Dividend

The business also recently announced 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 2.69%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

Insider Activity

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were bought 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 owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. UBS Group decreased their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Bank of America decreased their price target on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Finally, Cowen restated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $155.65.

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.