Headland Capital LLC Takes $337,000 Position in Blackstone Inc. (NYSE:BX)

Headland Capital LLC bought a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, Holdings Channel reports. The fund bought 1,953 shares of the asset manager’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its stake in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after buying an additional 62 shares during the last quarter. McAdam LLC increased its holdings in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after buying an additional 63 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock worth $1,903,000 after buying an additional 63 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

NYSE BX opened at $133.45 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm’s 50 day moving average price is $140.29 and its 200-day moving average price is $163.84. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a market cap of $97.34 billion, a PE ratio of 36.76, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be paid a $0.93 dividend. The ex-dividend date is Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.79%. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Analysts Set New Price Targets

BX has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, UBS Group reduced their price objective on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $154.82.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

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.