Congress Park Capital LLC Takes Position in Blackstone Inc. (NYSE:BX)

Congress Park Capital LLC bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,700 shares of the asset manager's stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisor Resource Council bought a new stake in shares of Blackstone during the 1st quarter worth approximately $205,000. Segment Wealth Management LLC grew its position in shares of Blackstone by 10.6% in the 1st quarter. Segment Wealth Management LLC now owns 95,919 shares of the asset manager's stock valued at $13,408,000 after acquiring an additional 9,215 shares during the period. Citizens & Northern Corp increased its position in Blackstone by 2.3% during the first quarter. Citizens & Northern Corp now owns 13,105 shares of the asset manager's stock worth $1,832,000 after buying an additional 298 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in shares of Blackstone by 9.2% during the 1st quarter. Spirit of America Management Corp NY now owns 14,300 shares of the asset manager's stock worth $1,999,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Proathlete Wealth Management LLC acquired a new stake in Blackstone during the 1st quarter valued at $83,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BX. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Barclays lifted their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Bank of America lowered their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Keefe, Bruyette & Woods dropped their price objective on shares of 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, UBS Group lowered their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $155.65.

Blackstone Stock Performance

NYSE:BX opened at $137.28 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. 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 stock has a market cap of $100.16 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 1.26 and a beta of 1.65. The stock's 50-day moving average is $137.03 and its 200-day moving average is $154.42.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter last year, the firm posted $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

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

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Blackstone 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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