Moss Adams Wealth Advisors LLC Buys 216 Shares of Blackstone Inc. (NYSE:BX)

Moss Adams Wealth Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 8.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,641 shares of the asset manager’s stock after acquiring an additional 216 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Blackstone were worth $369,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Blackstone during the fourth quarter worth about $63,109,000. Wealthcare Capital Partners LLC bought a new position in shares of Blackstone during the 4th quarter valued at about $2,102,000. Parallel Advisors LLC increased its stake in Blackstone by 6.6% during the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock worth $4,363,000 after purchasing an additional 1,943 shares in the last quarter. Comprehensive Money Management Services LLC bought a new position in Blackstone in the fourth quarter valued at approximately $1,747,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company’s stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $139.89 on Tuesday. The firm’s fifty day moving average price is $135.32 and its two-hundred day moving average price is $156.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market cap of $102.07 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.07 and a beta of 1.65. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $0.98 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is 112.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on BX. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their price objective on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. UBS Group cut their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Bank of America decreased their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Finally, Piper Sandler cut their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $155.65.

About Blackstone

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.