Alpha Cubed Investments LLC Acquires 600 Shares of Blackstone Inc. (NYSE:BX)

Alpha Cubed Investments LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 12.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,459 shares of the asset manager’s stock after purchasing an additional 600 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Blackstone were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Blackstone by 30.2% during the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after purchasing an additional 14,396,655 shares during the period. International Assets Investment Management LLC increased its stake in shares of Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after purchasing an additional 3,597,828 shares during the period. Northern Trust Corp increased its stake in shares of Blackstone by 43.9% during the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after purchasing an additional 2,098,150 shares during the period. Invesco Ltd. increased its stake in shares of Blackstone by 255.2% during the third quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock worth $289,073,000 after purchasing an additional 1,938,593 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Blackstone during the third quarter worth approximately $190,920,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction dated 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 of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BX. Morgan Stanley increased their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Piper Sandler reduced their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. UBS Group raised their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Finally, TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Stock Down 0.2 %

Shares of NYSE:BX opened at $116.36 on Wednesday. The firm has a market cap of $83.16 billion, a P/E ratio of 41.20, a P/E/G ratio of 1.00 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The business has a fifty day simple moving average of $125.63 and a 200 day simple moving average of $118.77.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 166.9% on a year-over-year basis. Analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.85%. Blackstone’s dividend payout ratio is presently 117.31%.

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.