Transcend Capital Advisors LLC Has $7.87 Million Position in Blackstone Inc. (NYSE:BX)

Transcend Capital Advisors LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,302 shares of the asset manager's stock after selling 2,923 shares during the period. Transcend Capital Advisors LLC's holdings in Blackstone were worth $7,870,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone during the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone in the 4th quarter worth approximately $34,000. Putney Financial Group LLC purchased a new stake in Blackstone in the fourth quarter worth $34,000. Garde Capital Inc. bought a new stake in shares of Blackstone in the first quarter valued at $36,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Blackstone during the 4th quarter valued at $46,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BX shares. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Citigroup cut 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. TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $155.65.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was 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 Price Performance

Shares of BX opened at $148.15 on Friday. The company has a market capitalization of $108.10 billion, a P/E ratio of 44.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $138.24 and a 200 day moving average of $152.90. Blackstone Inc. has a twelve month low of $115.66 and a twelve month 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 for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 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.

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