Lionshead Wealth Management LLC Buys Shares of 5,346 Blackstone Inc. (NYSE:BX)

Lionshead Wealth Management LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,346 shares of the asset manager’s stock, valued at approximately $922,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone in the 4th quarter worth approximately $33,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In related 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 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 filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat purchased 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,660,538 shares of company stock valued at $24,981,930 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.3%

Shares of NYSE:BX opened at $139.41 on Monday. The company has a market capitalization of $101.72 billion, a price-to-earnings ratio of 38.40, a P/E/G ratio of 1.07 and a beta of 1.67. 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’s 50-day moving average is $136.87 and its 200-day moving average is $162.18. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts predict 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. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

Wall Street Analyst Weigh In

Several research analysts have commented on BX shares. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Citigroup dropped their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler lowered their price objective on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $154.82.

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.