1,750 Shares in Blackstone Inc. (NYSE:BX) Acquired by Trust Investment Advisors

Trust Investment Advisors purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,750 shares of the asset manager’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently bought and sold shares of the business. Bourgeon Capital Management LLC raised its holdings in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Blackstone during the 4th quarter worth approximately $33,000. Coppell Advisory Solutions LLC acquired a new stake in Blackstone in the second quarter valued at approximately $25,000. Finally, Family CFO Inc acquired a new position in shares of Blackstone during the third quarter worth $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BX shares. Bank of America upped their target price on Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and upped their target price for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their price target on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Finally, TD Cowen started coverage on shares of Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $119.97.

Blackstone Trading Down 2.3 %

Shares of NYSE BX traded down $2.87 during mid-day trading on Thursday, hitting $120.32. The stock had a trading volume of 5,660,608 shares, compared to its average volume of 3,721,478. The firm has a market cap of $85.99 billion, a P/E ratio of 67.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $126.81 and a two-hundred day moving average price of $117.64. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities analysts anticipate that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.76%. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Insider Activity

In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

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.