Morse Asset Management Inc Has $2.54 Million Position in Blackstone Inc. (NYSE:BX)

Morse Asset Management Inc lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 31.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,731 shares of the asset manager's stock after purchasing an additional 3,499 shares during the period. Morse Asset Management Inc's holdings in Blackstone were worth $2,540,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone in the 4th quarter valued at $30,000. Roxbury Financial LLC acquired a new position in Blackstone in the 4th quarter valued at $34,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone during the 4th quarter worth $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Blackstone during the 4th quarter worth $34,000. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Down 0.0%

NYSE:BX traded down $0.07 during trading hours on Friday, reaching $146.69. 3,788,921 shares of the stock were exchanged, compared to its average volume of 3,775,198. The company has a market capitalization of $107.03 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 1.07 and a beta of 1.67. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The business has a 50-day moving average of $137.08 and a two-hundred day moving average of $161.71.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.54%. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BX shares. Bank of America dropped their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Piper Sandler cut their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup reduced their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $154.82.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company's stock, valued at $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 1,660,538 shares of company stock valued at $24,981,930. Company insiders own 1.00% of the company's stock.

Blackstone 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.