7,579 Shares in Blackstone Inc. $BX Purchased by AXQ Capital LP

AXQ Capital LP bought a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,579 shares of the asset manager’s stock, valued at approximately $1,168,000.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC bought a new position in Blackstone during the third quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Blackstone in the 3rd quarter worth $30,000. Strive Asset Management LLC bought a new position in shares of Blackstone during the third quarter valued at about $30,000. Family CFO Inc bought a new stake in shares of Blackstone in the 4th quarter valued at about $28,000. Finally, Ares Financial Consulting LLC bought a new position in Blackstone during the 4th quarter worth approximately $28,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $115.02 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $85.44 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 1.27 and a beta of 1.59. The business’s fifty day moving average is $118.75 and its 200 day moving average is $132.41. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last released its earnings results 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. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm earned $1.11 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Research analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced 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 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is 118.67%.

Insider Activity

In other news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This represents a -2,529.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 355 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the acquisition, the director owned 41,818 shares in the company, valued at $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 12,355,303 shares of company stock valued at $264,789,896. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BX shares. Jefferies Financial Group increased their price target on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Rothschild & Co Redburn lowered their price target on Blackstone from $138.00 to $134.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. The Goldman Sachs Group reduced their target price on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, TD Cowen dropped 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. Twelve equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $151.05.

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.