13,493 Shares in Blackstone Inc. (NYSE:BX) Acquired by Kingstone Capital Partners Texas LLC

Kingstone Capital Partners Texas LLC bought a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,493 shares of the asset manager's stock, valued at approximately $1,886,000. Blackstone comprises approximately 1.5% of Kingstone Capital Partners Texas LLC's investment portfolio, making the stock its 26th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Blackstone during the fourth quarter worth approximately $285,000. Empowered Funds LLC grew its holdings in Blackstone by 16.7% in the 4th quarter. Empowered Funds LLC now owns 34,022 shares of the asset manager's stock valued at $5,866,000 after buying an additional 4,874 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Blackstone by 6.8% during the 4th quarter. Empirical Finance LLC now owns 4,561 shares of the asset manager's stock worth $786,000 after acquiring an additional 289 shares during the period. Finally, AlphaStar Capital Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $252,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BX. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods cut their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Bank of America decreased their target price 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. Citizens Jmp raised 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. Finally, Barclays boosted their target price 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $155.65.

Insider Buying and Selling

In related news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The stock was 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 directly owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ruth Porat bought 237 shares of the business's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Down 1.6%

Shares of BX stock traded down $2.19 on Friday, reaching $138.60. 712,788 shares of the stock were exchanged, compared to its average volume of 3,782,038. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $101.13 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 1.07 and a beta of 1.65. The business's 50 day moving average price is $136.18 and its 200 day moving average price is $156.23.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.68%. Blackstone's payout ratio is 112.05%.

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.