7,454 Shares in Blackstone Inc. $BX Acquired by Div Capital Phoenix Assets Ltd

Div Capital Phoenix Assets Ltd purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,454 shares of the asset manager’s stock, valued at approximately $1,149,000. Blackstone comprises 0.3% of Div Capital Phoenix Assets Ltd’s holdings, making the stock its 12th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in Blackstone during the 3rd quarter worth approximately $30,000. Finally, Strive Asset Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.9%

Shares of BX opened at $120.67 on Friday. The stock’s 50-day moving average is $119.81 and its two-hundred day moving average is $131.09. The stock has a market cap of $89.65 billion, a PE ratio of 30.86, a P/E/G ratio of 1.29 and a beta of 1.59. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. 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 (NYSE:BX) last released its quarterly 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. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. Blackstone’s payout ratio is 118.67%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday. UBS Group dropped their price target on Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, Barclays dropped their price target on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Insiders Place Their Bets

In related news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 12,355,303 shares of company stock valued at $264,789,896. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.