6,298 Shares in Blackstone Inc. $BX Purchased by Cane Capital Partners LLC

Cane Capital Partners LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 6,298 shares of the asset manager’s stock, valued at approximately $724,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Family CFO Inc purchased a new stake in Blackstone in the 4th quarter worth $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone during the fourth quarter valued at $28,000. Richardson Financial Services Inc. purchased a new stake in shares of Blackstone during the fourth quarter worth about $29,000. Strive Asset Management LLC purchased a new position in Blackstone in the 3rd quarter valued at about $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating on the stock. HSBC dropped their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research note on Friday, April 10th. Jefferies Financial Group raised their target price on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler upped their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and a consensus price target of $149.36.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders acquired 10,252,345 shares of company stock worth $209,789,893. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.6%

Shares of BX stock opened at $119.55 on Thursday. The stock has a market capitalization of $88.81 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.58. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average price of $119.94 and a 200 day moving average price of $128.26.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. Equities research analysts predict that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.