Blackstone Inc. (NYSE:BX) Shares Acquired by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC boosted its position in Blackstone Inc. (NYSE:BX) by 8.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,216 shares of the asset manager’s stock after acquiring an additional 590 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Blackstone were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its position in Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Blackstone by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after buying an additional 62 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Blackstone by 2.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 2,889 shares of the asset manager’s stock valued at $498,000 after buying an additional 65 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Blackstone by 2.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,723 shares of the asset manager’s stock valued at $469,000 after buying an additional 65 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Blackstone by 4.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,767 shares of the asset manager’s stock valued at $305,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat bought 237 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director now directly owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated 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 sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several research reports. TD Cowen dropped their price target on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their target price on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler cut their target price on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note 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 data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $155.65.

Blackstone Trading Up 1.9%

Shares of NYSE:BX opened at $140.42 on Friday. The stock has a market capitalization of $102.46 billion, a PE ratio of 38.68, a P/E/G ratio of 1.07 and a beta of 1.65. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm has a fifty day moving average price of $135.47 and a 200 day moving average price of $157.46. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

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.