Gunpowder Capital Management LLC dba Oliver Wealth Management Makes New Investment in Blackstone Inc. $BX

Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,942 shares of the asset manager’s stock, valued at approximately $762,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Bayban acquired a new position in shares of Blackstone during the fourth quarter worth about $142,000. Sentinel Dome Partners LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $5,950,000. AG Campbell Advisory LLC acquired a new position in Blackstone during the 4th quarter worth approximately $6,358,000. Pure Financial Advisors LLC boosted its holdings in Blackstone by 5.6% in the 4th quarter. Pure Financial Advisors LLC now owns 5,124 shares of the asset manager’s stock worth $790,000 after acquiring an additional 272 shares during the period. Finally, SHP Wealth Management purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $143,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BX has been the subject of several analyst reports. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a report on Tuesday, April 21st. Citizens Jmp lowered their target price on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. UBS Group cut their price target on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Finally, Oppenheimer increased their price target on Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Blackstone Stock Down 0.0%

NYSE:BX opened at $123.78 on Friday. The stock has a 50-day simple moving average of $121.11 and a 200 day simple moving average of $130.35. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a market capitalization of $91.95 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $1.11 EPS. Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 355 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 9,487,234 shares of company stock valued at $189,789,892 over the last three months. 1.00% of the stock is currently owned by company insiders.

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.