47,381 Shares in Blackstone Inc. $BX Purchased by Marble Wealth LLC

Key Points

• Marble Wealth LLC opened a new position in Blackstone during the fourth quarter, buying 47,381 shares worth about $7.3 million. The stake represents roughly 1.0% of Marble Wealth’s holdings.
• Blackstone reported strong quarterly results, with EPS of $1.36 topping estimates and revenue rising 10% year over year to $3.43 billion. Analysts now expect the company to earn 5.9 EPS for the current year.
• The stock also drew attention from insiders and analysts: Blackstone recently paid a $1.16 quarterly dividend (4.0% yield), while analysts’ consensus rating remains Hold with a $151.05 price target.

Marble Wealth LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 47,381 shares of the asset manager's stock, valued at approximately $7,303,000. Blackstone accounts for about 1.0% of Marble Wealth LLC's holdings, making the stock its 24th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new position in Blackstone during the 3rd quarter valued at about $26,000. Family CFO Inc purchased a new position in Blackstone during the 4th quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone during the 4th quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone during the 4th quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Blackstone during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 1.6%

NYSE:BX opened at $115.02 on Wednesday. The company has a market cap of $85.44 billion, a PE ratio of 29.42, a P/E/G ratio of 1.27 and a beta of 1.59. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $118.75 and its two-hundred day moving average is $132.41.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, May 4th. Blackstone's payout ratio is presently 118.67%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Blackstone from $154.00 to $156.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Piper Sandler lifted their price objective on shares of Blackstone from $122.00 to $130.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Jefferies Financial Group lifted their price objective on shares of Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada set a $173.00 price objective on shares of Blackstone in a research report on Friday, April 24th. Finally, HSBC cut their price objective on shares of Blackstone from $164.00 to $131.00 and set a "hold" rating on the stock in a research report on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of "Hold" and a consensus price target of $151.05.

Insider Buying and Selling at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruth Porat bought 355 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 12,355,303 shares of company stock worth $264,789,896. Corporate insiders own 1.00% of the company's stock.

About Blackstone

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.

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