CFO Capital Management LLC Takes $764,000 Position in Blackstone Inc. $BX

CFO Capital Management LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,954 shares of the asset manager’s stock, valued at approximately $764,000.

Several other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter worth $30,000. Strive Asset Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $30,000. Family CFO Inc bought a new position in shares of Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone in the 4th quarter valued at $28,000. Finally, Richardson Financial Services Inc. bought a new stake in Blackstone during the fourth quarter valued at about $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX stock opened at $123.78 on Friday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm has a market capitalization of $91.95 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The business has a 50 day simple moving average of $121.11 and a 200-day simple moving average of $130.35. 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 posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.7%. Blackstone’s payout ratio is 118.67%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BX. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. TD Cowen decreased their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Evercore restated an “outperform” rating and set a $150.00 price target on shares of Blackstone in a research note on Tuesday, April 21st. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Transactions at Blackstone

In other news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’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 sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 9,487,234 shares of company stock valued at $189,789,892 over the last ninety days. 1.00% of the stock is owned by insiders.

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.