Headinvest LLC Makes New Investment in Blackstone Inc. $BX

Headinvest LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,604 shares of the asset manager’s stock, valued at approximately $710,000.

Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC acquired a new stake in shares of Blackstone during the third quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth about $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone during the third quarter worth about $30,000. Family CFO Inc acquired a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Argus decreased their target price on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. UBS Group reduced their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Citizens Jmp reduced their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Evercore restated an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada set a $173.00 price objective on shares of Blackstone in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $150.95.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares in the company, valued at $90,670.32. This represents a 99.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,103,660 shares of company stock valued at $45,982,920 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Sources say Apollo, Blackstone and KKR are competing to buy Shell’s stake in the massive LNG Canada project — a potential strategic investment for Blackstone that could add scale to its energy/private assets and revenue potential if a deal is reached. Exclusive: Apollo, Blackstone and KKR vie for Shell stake in LNG Canada, sources say
• Positive Sentiment: Dividend coverage highlights an upcoming payout (Simply Wall St/Yahoo piece), which can support investor sentiment for BX by signaling cash return and income potential for shareholders. Blackstone Inc. (NYSE:BX) Pays A US$1.16 Dividend In Just Two Days
• Neutral Sentiment: Analyst-focused coverage of Blackstone’s Q1 earnings call (MSN roundup of top analyst questions) may affect near-term guidance detail and investor expectations but is more informational unless new guidance or revisions emerge. Blackstone’s Q1 earnings call: Our top 5 analyst questions
• Negative Sentiment: Insider Vikrant Sawhney sold 30,014 BX shares on May 1 at about $125.79 (≈$3.78M), reducing his stake by ~3.23% — a large, disclosed sale that can be perceived negatively by investors searching for insider conviction. SEC filing: Insider sale SEC filing
• Negative Sentiment: Zacks Research moved BX to a Zacks Rank #5 (Strong Sell), a notable downgrade that can pressure sentiment and trigger short-term selling by momentum/quant strategies. Coverage referenced by Zacks/TickerReport and media roundups. Zacks.com Tickerreport: Zacks downgrade

Blackstone Trading Up 0.2%

Shares of Blackstone stock opened at $126.56 on Monday. The company has a market capitalization of $93.93 billion, a P/E ratio of 32.37, a P/E/G ratio of 1.38 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The business has a 50 day moving average price of $115.95 and a 200 day moving average price of $136.94.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. Sell-side analysts anticipate that Blackstone Inc. will post 5.91 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Monday, May 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th. Blackstone’s dividend payout ratio is 152.43%.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.