Bfsg LLC Takes $79,000 Position in Blackstone Inc. (NYSE:BX)

Bfsg LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 600 shares of the asset manager’s stock, valued at approximately $79,000.

Other large investors also recently made changes to their positions in the company. Strategic Blueprint LLC lifted its position in Blackstone by 5.1% in the 3rd quarter. Strategic Blueprint LLC now owns 9,015 shares of the asset manager’s stock valued at $966,000 after acquiring an additional 438 shares in the last quarter. Caprock Group LLC lifted its position in shares of Blackstone by 21.4% during the 3rd quarter. Caprock Group LLC now owns 4,929 shares of the asset manager’s stock worth $528,000 after buying an additional 868 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of Blackstone by 8.1% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,641 shares of the asset manager’s stock worth $283,000 after buying an additional 198 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Blackstone during the 3rd quarter worth approximately $225,000. Finally, Czech National Bank bought a new position in shares of Blackstone during the 3rd quarter worth approximately $13,291,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the subject of several research analyst reports. Bank of America decreased their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Morgan Stanley raised their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Piper Sandler decreased their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.65.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Blackstone news, insider John G. Finley sold 49,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $123.19 on Friday. The company has a market cap of $88.04 billion, a price-to-earnings ratio of 43.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a 50-day moving average price of $126.08 and a 200-day moving average price of $118.27. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 132.86%.

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.