Total Wealth Planning & Management Inc. Invests $593,000 in Blackstone Inc. (NYSE:BX)

Total Wealth Planning & Management Inc. acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,441 shares of the asset manager's stock, valued at approximately $593,000.

A number of other institutional investors have also recently bought and sold shares of BX. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone in the fourth quarter worth about $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Roxbury Financial LLC acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Wall Street Zen downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. JMP Securities reiterated a "market outperform" rating and issued a $165.00 price target on shares of Blackstone in a research note on Thursday, April 24th. Finally, Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and an average target price of $155.65.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 237 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

BX traded down $0.88 during trading hours on Wednesday, hitting $138.42. 2,209,733 shares of the stock were exchanged, compared to its average volume of 3,790,110. The stock has a market cap of $101.00 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a 50-day simple moving average of $136.36 and a 200-day simple moving average of $159.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

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 for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. 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.