Marble Wealth LLC Makes New Investment in Blackstone Inc. $BX

Marble Wealth LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 47,381 shares of the asset manager’s stock, valued at approximately $7,303,000. Blackstone accounts for 1.0% of Marble Wealth LLC’s portfolio, making the stock its 24th largest position.

A number of other large investors have also modified their holdings of BX. REAP Financial Group LLC purchased a new stake in shares of Blackstone during the third quarter worth $26,000. Family CFO Inc purchased a new stake in shares of Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $28,000. Richardson Financial Services Inc. purchased a new stake in shares of Blackstone during the fourth quarter worth $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.6%

Shares of BX opened at $115.02 on Wednesday. The stock has a market capitalization of $85.44 billion, a PE ratio of 29.42, a P/E/G ratio of 1.27 and a beta of 1.59. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50-day simple moving average is $118.75 and its 200-day simple moving average is $132.41.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 earnings per share. Analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 4.0%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Transactions at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of Blackstone stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the acquisition, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BX shares. Argus dropped their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. BMO Capital Markets upped their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Royal Bank Of Canada set a $173.00 target price on shares of Blackstone in a research note on Friday, April 24th. Rothschild & Co Redburn lowered their target price on shares of Blackstone from $138.00 to $134.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, HSBC lowered their target price on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research note on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $151.05.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.