Circle Wealth Management LLC Invests $201,000 in Blackstone Inc. (NYSE:BX)

Circle Wealth Management LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,164 shares of the asset manager’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in BX. Hager Investment Management Services LLC bought a new position in Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone in the fourth quarter worth $30,000. Roxbury Financial LLC purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone in the fourth quarter worth $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the 4th quarter valued at $34,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat bought 237 shares of the stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,660,538 shares of company stock worth $24,981,930. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BX shares. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Citigroup reduced their target price on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.82.

Blackstone Stock Up 2.7 %

Shares of BX opened at $139.82 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock has a fifty day simple moving average of $137.09 and a two-hundred day simple moving average of $162.47. The company has a market capitalization of $102.02 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS 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 firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $0.98 EPS. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

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

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.