Concurrent Investment Advisors LLC Increases Position in Blackstone Inc. (NYSE:BX)

Concurrent Investment Advisors LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,994 shares of the asset manager's stock after buying an additional 15,886 shares during the period. Concurrent Investment Advisors LLC's holdings in Blackstone were worth $5,870,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BX. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in Blackstone during the 4th quarter valued at $34,000. Putney Financial Group LLC bought a new stake in Blackstone during the 4th quarter valued at $34,000. von Borstel & Associates Inc. bought a new stake in Blackstone during the 1st quarter valued at $28,000. Finally, Garde Capital Inc. bought a new stake in Blackstone during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BX shares. Bank of America cut their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Barclays raised 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. Citigroup cut their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $156.65.

Blackstone Trading Down 1.3%

Blackstone stock traded down $2.08 during mid-day trading on Monday, hitting $153.05. The company's stock had a trading volume of 4,112,668 shares, compared to its average volume of 3,858,906. The stock has a market cap of $111.67 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.65. The business has a 50 day moving average price of $141.20 and a 200-day moving average price of $151.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion for 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 period last year, the company posted $0.98 earnings per share. As a group, analysts forecast 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 given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction dated 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 owned 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business's stock in a transaction on 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 acquisition, the insider owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

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.