Alpha Cubed Investments LLC Has $1.14 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Alpha Cubed Investments LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,144 shares of the asset manager's stock after acquiring an additional 3,141 shares during the period. Alpha Cubed Investments LLC's holdings in Blackstone were worth $1,138,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone in the 1st quarter valued at $28,000. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new stake in Blackstone during the 4th quarter valued at $34,000. Putney Financial Group LLC acquired a new stake in Blackstone during the 4th quarter valued at $34,000. Finally, Garde Capital Inc. acquired a new stake in Blackstone during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director owned 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction dated 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 purchase, the insider owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Blackstone stock traded up $2.51 during midday trading on Tuesday, reaching $155.50. 1,040,243 shares of the company's stock were exchanged, compared to its average volume of 3,848,019. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The stock's 50-day simple moving average is $141.58 and its 200 day simple moving average is $151.04. The firm has a market cap of $113.46 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 1.43 and a beta of 1.65. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the prior year, the company earned $0.98 EPS. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.39%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. JMP Securities reissued a "market outperform" rating and issued a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Bank of America lowered their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Keefe, Bruyette & Woods lowered their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $156.65.

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.