Fund Advisors of America Inc FL Buys Shares of 6,013 Blackstone Inc. $BX

Fund Advisors of America Inc FL acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,013 shares of the asset manager’s stock, valued at approximately $927,000.

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

Blackstone Stock Down 0.0%

BX opened at $123.78 on Friday. 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 Inc. has a one year low of $101.73 and a one year high of $190.09. The firm has a market capitalization of $91.95 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The company has a fifty day moving average price of $121.11 and a 200-day moving average price of $130.35.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) 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 the consensus estimate of $3.45 billion. During the same quarter in the previous year, the business earned $1.11 EPS. Blackstone’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect 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. Investors 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 dividend yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 355 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 9,487,234 shares of company stock valued at $189,789,892. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BX shares. HSBC lowered their target price on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Jefferies Financial Group boosted their target price 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. BMO Capital Markets lifted their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, UBS Group dropped their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. 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, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

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.