Hexagon Capital Partners LLC Has $1.11 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Hexagon Capital Partners LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,919 shares of the asset manager’s stock after acquiring an additional 321 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Blackstone were worth $1,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BX. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone in the first quarter worth $28,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the fourth quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone in the fourth quarter worth $34,000. Putney Financial Group LLC acquired a new stake in shares of Blackstone in the fourth quarter worth $34,000. Finally, Garde Capital Inc. bought a new stake in Blackstone in the 1st quarter valued at $36,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BX. Citigroup cut their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company raised their price objective on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Barclays raised their price objective on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.65.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider directly 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on 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 completion of the sale, the insider directly owned 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. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.0%

Shares of BX opened at $155.13 on Friday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year 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. The stock has a 50 day simple moving average of $141.20 and a 200-day simple moving average of $151.28. The stock has a market cap of $113.19 billion, a PE ratio of 46.72, a PEG ratio of 1.43 and a beta of 1.65.

Blackstone (NYSE:BX) last released its quarterly 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 net margin of 19.83% and a return on equity of 19.84%. The business had revenue of $2.76 billion for 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. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued 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 yield of 2.40%. Blackstone’s dividend payout ratio is 112.05%.

Blackstone 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.