Geneos Wealth Management Inc. Has $665,000 Position in Blackstone Inc. (NYSE:BX)

Geneos Wealth Management Inc. decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,059 shares of the asset manager’s stock after selling 198 shares during the period. Geneos Wealth Management Inc.’s holdings in Blackstone were worth $665,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BX. Vanguard Group Inc. raised its stake in Blackstone by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 62,972,648 shares of the asset manager’s stock worth $8,244,379,000 after acquiring an additional 880,745 shares in the last quarter. Capital World Investors increased its position in shares of Blackstone by 4.2% during the 4th quarter. Capital World Investors now owns 33,738,986 shares of the asset manager’s stock worth $4,417,140,000 after purchasing an additional 1,367,581 shares in the last quarter. Brown Advisory Inc. boosted its position in Blackstone by 5.3% in the fourth quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock valued at $841,783,000 after buying an additional 322,860 shares in the last quarter. Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $708,859,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Blackstone by 13,816.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after acquiring an additional 3,597,828 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ruth Porat purchased 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

BX traded up $2.35 during mid-day trading on Thursday, hitting $126.61. The stock had a trading volume of 3,403,985 shares, compared to its average volume of 3,431,391. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $133.56. The firm has a market capitalization of $90.48 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s fifty day simple moving average is $122.59 and its 200-day simple moving average is $124.24.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting 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 period in the previous year, the firm earned $0.97 earnings per share. The company’s revenue was up 166.9% on a year-over-year basis. As a group, research analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is 117.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BX shares. Argus boosted their price objective on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Piper Sandler decreased their price objective on shares of Blackstone from $143.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. TD Cowen dropped 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. Finally, Morgan Stanley lifted their target price on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.00.

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.