Inscription Capital LLC Takes $834,000 Position in Blackstone Inc. (NYSE:BX)

Inscription Capital LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,346 shares of the asset manager's stock, valued at approximately $834,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Blackstone by 22.2% in the fourth quarter. Van ECK Associates Corp now owns 24,563 shares of the asset manager's stock worth $4,235,000 after purchasing an additional 4,469 shares during the last quarter. Everhart Financial Group Inc. purchased a new stake in Blackstone during the 4th quarter valued at $268,000. Principal Securities Inc. boosted its stake in shares of Blackstone by 6.9% in the 4th quarter. Principal Securities Inc. now owns 18,036 shares of the asset manager's stock worth $3,110,000 after buying an additional 1,171 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Blackstone by 1.3% during the fourth quarter. CIBC Asset Management Inc now owns 174,558 shares of the asset manager's stock valued at $30,097,000 after acquiring an additional 2,189 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays increased their price target on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, Piper Sandler cut their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $155.65.

Blackstone Stock Performance

Shares of BX traded up $1.59 during mid-day trading on Thursday, reaching $137.28. The company had a trading volume of 2,687,961 shares, compared to its average volume of 3,807,221. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $100.16 billion, a P/E ratio of 41.35, a PEG ratio of 1.26 and a beta of 1.65. The stock has a 50 day moving average of $136.82 and a two-hundred day moving average of $154.76.

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 for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 237 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director now directly owns 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.