7,334 Shares in Blackstone Inc. $BX Purchased by ATX Financial Planning LLC

ATX Financial Planning LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,334 shares of the asset manager’s stock, valued at approximately $1,130,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evansbrook LLC purchased a new stake in Blackstone in the 4th quarter valued at about $397,000. Spinecap SAS boosted its stake in Blackstone by 4.4% during the fourth quarter. Spinecap SAS now owns 67,928 shares of the asset manager’s stock worth $10,470,000 after buying an additional 2,872 shares during the period. First Growth Capital LLC acquired a new stake in shares of Blackstone during the fourth quarter valued at about $410,000. Axxcess Wealth Management LLC lifted its holdings in shares of Blackstone by 8.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 60,288 shares of the asset manager’s stock worth $9,293,000 after acquiring an additional 4,494 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Blackstone by 10.8% during the 4th quarter. Corient Private Wealth LLC now owns 475,201 shares of the asset manager’s stock worth $73,247,000 after purchasing an additional 46,308 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 1.0%

Shares of Blackstone stock opened at $123.78 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $91.95 billion, a P/E ratio of 31.66, a PEG ratio of 1.36 and a beta of 1.59. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The firm has a fifty day moving average of $120.98 and a two-hundred day moving average of $130.40.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating 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 analyst estimates of $3.45 billion. During the same quarter in the previous year, the company earned $1.11 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

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

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Piper Sandler lifted their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Royal Bank Of Canada started coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. Evercore reissued an “outperform” rating and set a $150.00 target price on shares of Blackstone in a research report on Tuesday, April 21st. Finally, Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Thirteen equities 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, the company currently has an average rating of “Moderate Buy” and an average target price of $150.86.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ruth Porat acquired 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, with a total value of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 9,487,234 shares of company stock worth $189,789,892 over the last quarter. Insiders own 1.00% of the company’s stock.

About Blackstone

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.