Blackstone Inc. (NYSE:BX) Shares Bought by Morse Asset Management Inc

Morse Asset Management Inc raised its holdings in Blackstone Inc. (NYSE:BX) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,142 shares of the asset manager’s stock after purchasing an additional 2,305 shares during the quarter. Morse Asset Management Inc’s holdings in Blackstone were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. Northwest Financial Advisors acquired a new stake in Blackstone in the 4th quarter valued at about $25,000. Chilton Capital Management LLC acquired a new position in Blackstone in the 1st quarter valued at about $26,000. Bourgeon Capital Management LLC grew its holdings in shares of Blackstone by 86.2% during the fourth 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. Roble Belko & Company Inc purchased a new position in shares of Blackstone in the 4th quarter worth $30,000. Finally, Advantage Trust Co acquired a new position in Blackstone during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat bought 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BX. Argus upped their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barclays boosted their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Bank of America raised their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Piper Sandler lifted their price target on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $127.56.

Blackstone Stock Performance

BX stock traded up $1.98 during trading on Friday, reaching $142.00. 3,262,890 shares of the company’s stock were exchanged, compared to its average volume of 3,826,148. The firm has a market cap of $101.48 billion, a PE ratio of 50.18, a P/E/G ratio of 1.21 and a beta of 1.50. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $145.16. The company’s fifty day moving average price is $125.80 and its 200-day moving average price is $125.05.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, research analysts expect that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, July 29th. Blackstone’s payout ratio is currently 117.31%.

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.