Global Assets Advisory LLC Acquires 6,179 Shares of Blackstone Inc. (NYSE:BX)

Global Assets Advisory LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 154.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,192 shares of the asset manager's stock after acquiring an additional 6,179 shares during the period. Global Assets Advisory LLC's holdings in Blackstone were worth $1,367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Putney Financial Group LLC bought a new position in Blackstone in the fourth quarter worth about $34,000. Garde Capital Inc. acquired a new position in Blackstone in the first quarter valued at approximately $36,000. Finally, WFA Asset Management Corp acquired a new stake in shares of Blackstone during the 1st quarter worth approximately $38,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent research reports. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company increased their price objective on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Finally, Citigroup cut their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has an average rating of "Hold" and an average price target of $155.65.

Blackstone Stock Up 2.3%

NYSE BX traded up $3.24 during trading on Thursday, reaching $146.81. 590,875 shares of the company's stock were exchanged, compared to its average volume of 4,291,286. The firm has a market capitalization of $107.12 billion, a PE ratio of 44.22, a P/E/G ratio of 1.32 and a beta of 1.65. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week 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 company's fifty day simple moving average is $137.88 and its 200-day simple moving average is $153.16.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 2.53%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

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.