Silvercrest Asset Management Group LLC Purchases 76 Shares of Blackstone Inc. (NYSE:BX)

Silvercrest Asset Management Group LLC grew its position in Blackstone Inc. (NYSE:BX) by 0.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,477 shares of the asset manager’s stock after purchasing an additional 76 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Blackstone were worth $42,325,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BX. Hager Investment Management Services LLC bought a new stake in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the fourth quarter worth about $30,000. Roxbury Financial LLC bought a new stake in Blackstone during the fourth quarter worth about $34,000. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the fourth quarter valued at approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Blackstone in the fourth quarter valued at approximately $34,000. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. 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. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $154.82.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the firm’s 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 sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 1,660,538 shares of company stock worth $24,981,930. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $146.69 on Friday. The stock’s fifty day moving average price is $137.25 and its two-hundred day moving average price is $161.55. The firm has a market cap of $107.03 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, research analysts expect 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. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.54%. Blackstone’s 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.