Capital Advisors Ltd. LLC Boosts Position in Blackstone Inc. (NYSE:BX)

Capital Advisors Ltd. LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,500 shares of the asset manager’s stock after acquiring an additional 133 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Blackstone were worth $327,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Bfsg LLC purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $79,000. Madison Park Capital Advisors LLC bought a new position in Blackstone in the fourth quarter worth $2,183,000. GAMMA Investing LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $462,000. Linden Thomas Advisory Services LLC grew its stake in shares of Blackstone by 10.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,313 shares of the asset manager’s stock worth $1,743,000 after acquiring an additional 1,217 shares during the last quarter. Finally, Community Bank & Trust Waco Texas grew its stake in shares of Blackstone by 2.0% in the fourth quarter. Community Bank & Trust Waco Texas now owns 77,729 shares of the asset manager’s stock worth $10,176,000 after acquiring an additional 1,556 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America dropped their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet cut Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Barclays reissued an “equal weight” rating and issued a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Finally, Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Trading Down 1.5 %

Shares of Blackstone stock traded down $1.85 on Thursday, reaching $121.93. The company had a trading volume of 1,343,780 shares, compared to its average volume of 3,665,694. The firm’s 50-day moving average price is $126.21 and its two-hundred day moving average price is $118.24. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. The firm has a market cap of $87.14 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 1.03 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. As a group, research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s payout ratio is 132.86%.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. In the last three months, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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.