Moody Lynn & Lieberson LLC Purchases 400 Shares of Blackstone Inc. (NYSE:BX)

Moody Lynn & Lieberson LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,966 shares of the asset manager’s stock after acquiring an additional 400 shares during the period. Blackstone accounts for approximately 2.5% of Moody Lynn & Lieberson LLC’s investment portfolio, making the stock its 13th biggest holding. Moody Lynn & Lieberson LLC’s holdings in Blackstone were worth $38,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BX. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone during the fourth quarter worth approximately $34,000. Putney Financial Group LLC acquired a new stake in Blackstone in the 4th quarter valued at $34,000. Garde Capital Inc. acquired a new position in Blackstone during the first quarter worth $36,000. Finally, WFA Asset Management Corp acquired a new position in shares of Blackstone during the first quarter valued at about $38,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Blackstone news, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, the insider owned 475,336 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider owned 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 disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $152.82 on Wednesday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s fifty day moving average is $139.81 and its 200 day moving average is $151.83. The firm has a market capitalization of $111.51 billion, a PE ratio of 46.03, a PEG ratio of 1.37 and a beta of 1.65.

Blackstone (NYSE:BX) last posted its quarterly 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 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 the consensus estimate of $2.95 billion. During the same period in the prior year, the firm posted $0.98 EPS. On average, sell-side analysts anticipate 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 paid a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.43%. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. TD Cowen dropped their price target on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JMP Securities reissued a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Piper Sandler dropped their price objective on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America reduced their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $155.65.

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.