Chapin Davis Inc. Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Chapin Davis Inc. decreased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 33.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,340 shares of the asset manager's stock after selling 3,204 shares during the quarter. Chapin Davis Inc.'s holdings in Blackstone were worth $886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in Blackstone in the 4th quarter worth approximately $34,000. Putney Financial Group LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $34,000. Garde Capital Inc. bought a new stake in Blackstone during the first quarter valued at $36,000. Finally, WFA Asset Management Corp bought a new position in Blackstone in the 1st quarter worth about $38,000. Institutional investors own 70.00% of the company's stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $137.45 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The company has a market cap of $100.29 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 1.26 and a beta of 1.65. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a 50-day moving average price of $137.23 and a 200-day moving average price of $153.63.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same period last year, the firm posted $0.98 earnings per share. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid 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 payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BX. Bank of America decreased their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Citigroup lowered their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their target price on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Finally, Barclays increased their price objective on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $155.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat acquired 237 shares of the business's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following 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 disclosure for this purchase can be found here. 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.

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