Perryman Financial Advisory Inc. AD Acquires Shares of 128,883 Blackstone Inc. $BX

Key Points

• Perryman Financial Advisory Inc. AD disclosed a new stake in Blackstone, buying 128,883 shares valued at about $19.9 million. The position now makes up 2.9% of its portfolio and is its 7th-largest holding.
• Blackstone reported better-than-expected quarterly earnings, with EPS of $1.36 versus estimates of $1.34, while revenue rose 10% year over year to $3.43 billion. Analysts currently expect the company to earn 5.9 EPS for the full year.
• The company also paid a quarterly dividend of $1.16 per share, equal to an annualized yield of 3.8%. Meanwhile, several analysts remain constructive on the stock, with a consensus rating of Moderate Buy.

Perryman Financial Advisory Inc. AD acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 128,883 shares of the asset manager's stock, valued at approximately $19,866,000. Blackstone comprises 2.9% of Perryman Financial Advisory Inc. AD's investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Blackstone in the 4th quarter worth about $1,275,747,000. Capital Research Global Investors lifted its holdings in shares of Blackstone by 99.2% in the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager's stock worth $983,690,000 after acquiring an additional 3,178,133 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager's stock worth $12,100,868,000 after acquiring an additional 1,335,060 shares during the last quarter. Close Asset Management Ltd lifted its holdings in shares of Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager's stock worth $194,746,000 after acquiring an additional 1,133,197 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Blackstone by 476.1% in the 4th quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager's stock worth $204,193,000 after acquiring an additional 1,094,307 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Down 0.1%

BX stock opened at $122.63 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $91.10 billion, a PE ratio of 31.36, a P/E/G ratio of 1.33 and a beta of 1.59. The firm's 50-day moving average is $119.98 and its 200 day moving average is $130.96. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. On average, research analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone's dividend payout ratio (DPR) is 118.67%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company's stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of Blackstone stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. The trade was a 99.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 12,355,303 shares of company stock worth $264,789,896. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BX. TD Cowen lowered their target price on shares of Blackstone from $140.00 to $133.00 and set a "buy" rating for the company in a report on Monday, May 18th. Barclays lowered their target price on shares of Blackstone from $126.00 to $124.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Jefferies Financial Group raised their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Finally, UBS Group reduced their price target on shares of Blackstone from $171.00 to $137.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $150.86.

Blackstone Company Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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