Gordian Capital Singapore Pte Ltd Purchases Shares of 1,020 Blackstone Inc. (NYSE:BX)

Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,020 shares of the asset manager’s stock, valued at approximately $176,000.

A number of other hedge funds also recently bought and sold shares of the company. Cornerstone Advisory LLC raised its stake in shares of Blackstone by 12.8% during the fourth quarter. Cornerstone Advisory LLC now owns 4,230 shares of the asset manager’s stock worth $697,000 after acquiring an additional 481 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in Blackstone in the 4th quarter worth $1,113,000. 10Elms LLP bought a new stake in Blackstone in the fourth quarter worth $813,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Blackstone by 15.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 137,888 shares of the asset manager’s stock worth $23,775,000 after buying an additional 18,637 shares during the period. Finally, Note Advisors LLC purchased a new stake in Blackstone during the 4th quarter valued at about $202,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. JMP Securities reissued a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Cowen reaffirmed a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Citizens Jmp upgraded 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. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $154.82.

Blackstone Stock Down 4.6%

BX opened at $137.53 on Thursday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $137.43 and a 200-day moving average price of $160.99. The stock has a market capitalization of $100.35 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the company posted $0.98 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.70%. Blackstone’s payout ratio is currently 112.05%.

Insider Buying and Selling

In other Blackstone 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 completion of the sale, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

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.