Mascagni Wealth Management Inc. Acquires Shares of 302 Blackstone Inc. (NYSE:BX)

Mascagni Wealth Management Inc. acquired a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 302 shares of the asset manager’s stock, valued at approximately $52,000.

A number of other institutional investors have also modified their holdings of BX. Brighton Jones LLC raised its stake in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Nilsine Partners LLC raised its stake in Blackstone by 4.0% during the fourth quarter. Nilsine Partners LLC now owns 2,723 shares of the asset manager’s stock worth $470,000 after acquiring an additional 105 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Blackstone by 67.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 29,224 shares of the asset manager’s stock worth $5,039,000 after acquiring an additional 11,786 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in Blackstone by 1.8% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 4,996 shares of the asset manager’s stock worth $861,000 after acquiring an additional 86 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in Blackstone in the fourth quarter worth about $974,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BX. Bank of America cut their target price on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Cowen reissued a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Barclays raised their price target on shares of Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Wall Street Zen lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Piper Sandler dropped their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $155.65.

Insider Buying and Selling

In related news, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, 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. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

NYSE BX opened at $138.74 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market capitalization of $101.23 billion, a PE ratio of 38.22, a P/E/G ratio of 1.07 and a beta of 1.67. The company’s 50 day simple moving average is $136.09 and its 200 day simple moving average is $159.45.

Blackstone (NYSE:BX) last issued 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 business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is 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.