Tranquility Partners LLC Buys 1,919 Shares of Blackstone Inc. (NYSE:BX)

Tranquility Partners LLC increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,671 shares of the asset manager's stock after purchasing an additional 1,919 shares during the quarter. Blackstone accounts for approximately 4.1% of Tranquility Partners LLC's investment portfolio, making the stock its 2nd largest position. Tranquility Partners LLC's holdings in Blackstone were worth $10,577,000 at the end of the most recent reporting period.

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

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat acquired 237 shares of the company's stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $148.15 on Friday. The company has a market cap of $108.10 billion, a P/E ratio of 44.62, a PEG ratio of 1.32 and a beta of 1.65. 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 business has a 50-day moving average price of $138.24 and a two-hundred day moving average price of $152.90. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates 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 firm posted $0.98 earnings per share. As a group, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.51%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is currently 112.05%.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley lowered their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus price target of $155.65.

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.

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