1,508 Shares in Blackstone Inc. (NYSE:BX) Acquired by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,508 shares of the asset manager’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Blackstone during the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the 4th quarter worth about $33,000. Roxbury Financial LLC acquired a new stake in Blackstone during the 4th quarter worth about $34,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the 4th quarter valued at about $34,000. Finally, Putney Financial Group LLC acquired a new position in shares of Blackstone in the 4th quarter valued at about $34,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Piper Sandler reduced their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $155.65.

Blackstone Price Performance

BX stock opened at $136.37 on Friday. 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 business has a 50 day simple moving average of $136.51 and a 200-day simple moving average of $155.85. The firm has a market capitalization of $99.50 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of the 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 sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat acquired 237 shares of Blackstone stock in a transaction dated 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 completion of the purchase, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

About Blackstone

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.