Banque Transatlantique SA Invests $462,000 in Blackstone Inc. (NYSE:BX)

Banque Transatlantique SA acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,680 shares of the asset manager's stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Up 3.2 %

BX opened at $137.62 on Friday. The stock has a market capitalization of $100.38 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The business's 50-day simple moving average is $138.89 and its 200-day simple moving average is $163.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the company earned $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's payout ratio is currently 112.05%.

Insider Buying and Selling

In other news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BX shares. Citigroup dropped their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. TD Cowen reduced their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com lowered Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $154.82.

Blackstone Company Profile

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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