Ibex Wealth Advisors Grows Stock Position in Blackstone Inc. (NYSE:BX)

Ibex Wealth Advisors grew its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,679 shares of the asset manager’s stock after acquiring an additional 807 shares during the quarter. Ibex Wealth Advisors’ holdings in Blackstone were worth $5,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Roxbury Financial LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Murphy & Mullick Capital Management Corp purchased a new position in Blackstone in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new position in Blackstone in the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone in the fourth quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of 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 position. The purchase was disclosed in a filing with the SEC, 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 completion of the transaction, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $139.89 on Tuesday. 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 stock has a market capitalization of $102.07 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.07 and a beta of 1.65. The stock’s fifty day simple moving average is $135.32 and its 200 day simple moving average is $156.79. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.66%. Blackstone’s dividend payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BX shares. Piper Sandler reduced their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Citigroup cut their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $155.65.

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.