Capital Advisors Ltd. LLC Has $469,000 Stake in Blackstone Inc. (NYSE:BX)

Capital Advisors Ltd. LLC increased its stake in Blackstone Inc. (NYSE:BXGet Rating) by 103.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,031 shares of the asset manager’s stock after purchasing an additional 523 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Blackstone were worth $469,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new position in shares of Blackstone during the 4th quarter worth about $27,000. Landmark Wealth Management LLC bought a new position in Blackstone during the first quarter worth $27,000. Citizens National Bank Trust Department acquired a new position in Blackstone during the 4th quarter valued at $39,000. Earnest Partners LLC bought a new stake in Blackstone in the 4th quarter valued at $40,000. Finally, Independence Bank of Kentucky grew its position in Blackstone by 152.0% in the 1st quarter. Independence Bank of Kentucky now owns 315 shares of the asset manager’s stock worth $40,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 63.68% of the company’s stock.

Blackstone Trading Down 1.6 %

BX stock opened at $101.20 on Friday. The business has a fifty day moving average price of $100.08 and a 200 day moving average price of $111.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $149.78. The stock has a market capitalization of $70.91 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.95 and a beta of 1.44.

Blackstone (NYSE:BXGet Rating) last announced its earnings results on Thursday, July 21st. The asset manager reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.46 billion. Blackstone had a return on equity of 20.44% and a net margin of 22.48%. The firm’s quarterly revenue was up 96.1% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Analysts expect that Blackstone Inc. will post 5.16 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, August 1st will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.02%. Blackstone’s payout ratio is 92.70%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 71,223 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the transaction, the director now owns 1,141,965 shares of the company’s stock, valued at approximately $107,287,611.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 71,223 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total transaction of $6,691,400.85. Following the transaction, the director now directly owns 1,141,965 shares in the company, valued at approximately $107,287,611.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Breyer purchased 9,326 shares of the stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average price of $107.21 per share, with a total value of $999,840.46. Following the transaction, the director now owns 34,522 shares in the company, valued at $3,701,103.62. The disclosure for this purchase can be found here. Insiders have sold 205,954 shares of company stock valued at $11,578,255 over the last three months. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BX shares. Citigroup reduced their target price on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. Morgan Stanley lowered their price objective on Blackstone from $154.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $155.00 target price on shares of Blackstone in a research report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Blackstone from $180.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Finally, Piper Sandler reduced their price objective on shares of Blackstone from $154.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.82.

Blackstone Profile

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Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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