Blackstone Inc. (NYSE:BX) is BigSur Wealth Management LLC’s 7th Largest Position

BigSur Wealth Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,396 shares of the asset manager’s stock after purchasing an additional 6,091 shares during the quarter. Blackstone accounts for about 2.6% of BigSur Wealth Management LLC’s holdings, making the stock its 7th biggest holding. BigSur Wealth Management LLC’s holdings in Blackstone were worth $9,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Blackstone in the fourth quarter worth approximately $974,448,000. Raymond James Financial Inc. purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $316,257,000. Capital Research Global Investors purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $239,837,000. GAMMA Investing LLC lifted its position in shares of Blackstone by 14,608.6% during the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock worth $184,873,000 after buying an additional 1,313,606 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after buying an additional 889,286 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cowen restated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. UBS Group cut their target price on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their target price on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley cut their target price on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $155.65.

Blackstone Stock Performance

NYSE:BX opened at $136.37 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market cap of $99.50 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The firm’s fifty day simple moving average is $136.51 and its 200-day simple moving average is $155.85.

Blackstone (NYSE:BX) last posted 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 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 period last year, the company earned $0.98 earnings per share. Analysts expect 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. Stockholders of record on Monday, April 28th were paid 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 2.73%. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 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, for a total transaction of $32,310.21. Following the transaction, the director now directly owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

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.