U.S. Capital Wealth Advisors LLC Has $13.59 Million Stake in Blackstone Inc. (NYSE:BX)

U.S. Capital Wealth Advisors LLC boosted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 286.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,246 shares of the asset manager's stock after acquiring an additional 72,093 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Blackstone were worth $13,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Brighton Jones LLC boosted its stake in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after buying an additional 2,035 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Blackstone by 6.4% during the 4th quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock valued at $7,180,000 after buying an additional 2,494 shares during the last quarter. Dana Investment Advisors Inc. acquired a new stake in shares of Blackstone during the 4th quarter valued at approximately $532,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Blackstone during the 4th quarter valued at approximately $326,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Blackstone during the 4th quarter valued at approximately $302,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a research report on Thursday, April 24th. TD Cowen dropped their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Piper Sandler increased their target price on Blackstone from $140.00 to $157.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $156.65.

Blackstone Stock Performance

Shares of BX traded up $3.37 during trading hours on Tuesday, reaching $156.36. 4,035,598 shares of the company's stock traded hands, compared to its average volume of 3,865,974. The firm has a market capitalization of $114.09 billion, a price-to-earnings ratio of 47.10, a P/E/G ratio of 1.41 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The business's fifty day simple moving average is $141.58 and its two-hundred day simple moving average is $151.04.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results 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 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $0.98 EPS. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a $0.93 dividend. 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 2.38%. Blackstone's dividend payout ratio (DPR) is 112.05%.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider directly owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.