Kingstone Capital Partners Texas LLC Takes $1.89 Million Position in Blackstone Inc. (NYSE:BX)

Kingstone Capital Partners Texas LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 13,493 shares of the asset manager’s stock, valued at approximately $1,886,000. Blackstone comprises 1.5% of Kingstone Capital Partners Texas LLC’s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds have also bought and sold shares of BX. Centricity Wealth Management LLC purchased a new stake in Blackstone during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone during the 4th quarter worth about $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Roxbury Financial LLC acquired a new position in Blackstone in the 4th quarter worth about $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.4%

NYSE BX opened at $139.89 on Tuesday. 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 business’s fifty day simple moving average is $135.32 and its 200-day simple moving average is $156.79. The firm has a market cap of $102.07 billion, a PE ratio of 38.54, a P/E/G ratio of 1.07 and a beta of 1.65.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders 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 is currently 112.05%.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction 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 purchased 1,660,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their price objective 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. Morgan Stanley reduced their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Barclays boosted their price objective on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $165.00 price target on shares of Blackstone in a research report on Thursday, April 24th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $155.65.

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.