Blue Zone Wealth Advisors LLC Boosts Stock Position in Blackstone Inc. (NYSE:BX)

Blue Zone Wealth Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,621 shares of the asset manager's stock after buying an additional 5,338 shares during the quarter. Blackstone accounts for 1.6% of Blue Zone Wealth Advisors LLC's investment portfolio, making the stock its 26th largest position. Blue Zone Wealth Advisors LLC's holdings in Blackstone were worth $5,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BX. Verum Partners LLC boosted its stake in Blackstone by 2.7% during the first quarter. Verum Partners LLC now owns 3,152 shares of the asset manager's stock worth $441,000 after buying an additional 83 shares during the last quarter. Pines Wealth Management LLC boosted its stake in Blackstone by 5.7% during the first quarter. Pines Wealth Management LLC now owns 2,215 shares of the asset manager's stock worth $310,000 after buying an additional 119 shares during the last quarter. Next Level Private LLC lifted its stake in shares of Blackstone by 0.5% in the 1st quarter. Next Level Private LLC now owns 31,821 shares of the asset manager's stock valued at $4,448,000 after purchasing an additional 163 shares during the last quarter. Magnus Financial Group LLC lifted its stake in shares of Blackstone by 5.1% in the 1st quarter. Magnus Financial Group LLC now owns 20,179 shares of the asset manager's stock valued at $2,821,000 after purchasing an additional 987 shares during the last quarter. Finally, Fjell Capital LLC lifted its stake in shares of Blackstone by 9.6% in the 1st quarter. Fjell Capital LLC now owns 7,565 shares of the asset manager's stock valued at $1,057,000 after purchasing an additional 665 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company increased their price objective on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Morgan Stanley dropped their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. JMP Securities reiterated a "market outperform" rating and issued a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Finally, TD Cowen lowered their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. 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, Blackstone has an average rating of "Hold" and an average target price of $155.65.

Blackstone Stock Performance

Blackstone stock opened at $140.42 on Friday. The company has a market capitalization of $102.46 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.07 and a beta of 1.67. 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 Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a fifty day moving average of $135.47 and a two-hundred day moving average of $157.65.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the firm earned $0.98 EPS. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

About Blackstone

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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