Coppell Advisory Solutions LLC Buys 161 Shares of Blackstone Inc. (NYSE:BX)

Coppell Advisory Solutions LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 60.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426 shares of the asset manager’s stock after buying an additional 161 shares during the quarter. Coppell Advisory Solutions LLC’s holdings in Blackstone were worth $73,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its position in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone during the fourth quarter worth about $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $132.80 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a fifty day moving average of $141.56 and a two-hundred day moving average of $163.98. The stock has a market capitalization of $96.87 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) 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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Analyst Ratings Changes

BX has been the topic of a number of analyst reports. Piper Sandler lowered their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research report on Tuesday. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $154.82.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

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.