Gallagher Capital Advisors LLC Buys 6,583 Shares of Blackstone Inc. $BX

Gallagher Capital Advisors LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 35.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,358 shares of the asset manager’s stock after purchasing an additional 6,583 shares during the period. Blackstone makes up approximately 1.8% of Gallagher Capital Advisors LLC’s holdings, making the stock its 18th largest position. Gallagher Capital Advisors LLC’s holdings in Blackstone were worth $2,916,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Strive Asset Management LLC bought a new position in Blackstone in the third quarter valued at about $30,000. Family CFO Inc bought a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone during the 4th quarter worth $29,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Blackstone in the 3rd quarter worth $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BX shares. Jefferies Financial Group raised their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. TD Cowen lowered their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Argus dropped their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.52.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 355 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. The trade was a -2,529.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

NYSE:BX opened at $127.03 on Thursday. The company has a market capitalization of $94.37 billion, a P/E ratio of 32.49, a P/E/G ratio of 1.34 and a beta of 1.58. The business’s 50-day moving average is $119.73 and its 200 day moving average is $126.08. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. On average, equities research analysts forecast that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Blackstone 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.