TCG Advisory Services LLC Buys New Stake in Blackstone Inc. (NYSE:BX)

TCG Advisory Services LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,552 shares of the asset manager’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marino Stram & Associates LLC increased its stake in Blackstone by 3.8% in the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock valued at $339,000 after purchasing an additional 96 shares during the period. FFT Wealth Management LLC raised its stake in Blackstone by 2.0% during the 4th quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock valued at $667,000 after acquiring an additional 99 shares during the last quarter. Mayfair Advisory Group LLC grew its stake in shares of Blackstone by 2.7% in the 4th quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock valued at $484,000 after purchasing an additional 100 shares during the last quarter. Hartford Financial Management Inc. raised its stake in shares of Blackstone by 23.0% during the fourth quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager’s stock worth $70,000 after purchasing an additional 100 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BX shares. TD Cowen cut their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. JPMorgan Chase & Co. lowered their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Morgan Stanley increased their target price on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Finally, Barclays reissued an “equal weight” rating and issued a $125.00 target price (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.65.

Insider Transactions at Blackstone

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

Blackstone Trading Up 2.7 %

Shares of Blackstone stock opened at $121.21 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. The business has a 50 day moving average price of $125.06 and a 200 day moving average price of $119.25. The company has a market capitalization of $86.62 billion, a P/E ratio of 42.83, a P/E/G ratio of 0.98 and a beta of 1.52. Blackstone Inc. has a 1 year low of $80.05 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. Sell-side analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.74%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

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.