Blackstone Inc. (NYSE:BX) Holdings Raised by Main Street Group LTD

Main Street Group LTD lifted its stake in Blackstone Inc. (NYSE:BX) by 65.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 995 shares of the asset manager’s stock after acquiring an additional 394 shares during the period. Main Street Group LTD’s holdings in Blackstone were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $30,000. Roxbury Financial LLC acquired a new stake in Blackstone during the fourth quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone in the fourth quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone during the 4th quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 237 shares of Blackstone stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the transaction, the director now owns 37,067 shares of the company’s stock, valued at $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,660,538 shares of company stock worth $24,981,930. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BX shares. Cowen reiterated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Citigroup lowered their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Bank of America reduced their price objective on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Piper Sandler reduced their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $154.82.

Blackstone Trading Down 0.3%

Shares of BX stock opened at $148.57 on Wednesday. The business’s 50 day moving average is $136.86 and its two-hundred day moving average is $161.96. 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 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $108.40 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the firm earned $0.98 EPS. Equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

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.