OMC Financial Services LTD Acquires 2,442 Shares of Blackstone Inc. (NYSE:BX)

OMC Financial Services LTD increased its position in Blackstone Inc. (NYSE:BX - Free Report) by 36.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,052 shares of the asset manager's stock after purchasing an additional 2,442 shares during the period. OMC Financial Services LTD's holdings in Blackstone were worth $1,265,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BX. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after acquiring an additional 62 shares during the period. Ascent Group LLC lifted its stake in Blackstone by 0.9% during the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after acquiring an additional 74 shares during the period. Global Assets Advisory LLC lifted its stake in Blackstone by 1.9% during the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after acquiring an additional 75 shares during the period. Aptus Capital Advisors LLC lifted its stake in Blackstone by 0.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after acquiring an additional 78 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in Blackstone by 8.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,027 shares of the asset manager's stock valued at $177,000 after acquiring an additional 79 shares during the period. Institutional investors own 70.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BX. Wells Fargo & Company upped their price target on shares of Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Citigroup reduced their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler raised their price objective on Blackstone from $140.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Bank of America reduced their target price 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. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $156.65.

Insider Activity

In other news, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred 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 directly owned 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were purchased 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 directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Price Performance

BX traded up $2.13 during trading on Wednesday, reaching $158.48. 3,773,339 shares of the company traded hands, compared to its average volume of 3,865,609. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm has a fifty day simple moving average of $142.04 and a 200 day simple moving average of $151.07. The company has a market cap of $115.63 billion, a P/E ratio of 47.74, a PEG ratio of 1.41 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data 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). The company 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 business earned $0.98 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a dividend of $0.93 per share. 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 2.35%. Blackstone's dividend payout ratio is currently 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.