Blackstone Inc. (NYSE:BX) Shares Acquired by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 286.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,246 shares of the asset manager's stock after buying an additional 72,093 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Blackstone were worth $13,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in Blackstone in the first quarter valued at $28,000. Murphy & Mullick Capital Management Corp purchased a new position in Blackstone in the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Blackstone in the fourth quarter valued at $34,000. Putney Financial Group LLC purchased a new position in Blackstone in the fourth quarter valued at $34,000. Finally, Garde Capital Inc. purchased a new position in Blackstone in the first quarter valued at $36,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE:BX traded up $5.53 during trading on Thursday, reaching $164.21. The company had a trading volume of 5,577,639 shares, compared to its average volume of 3,877,887. The firm has a market capitalization of $119.81 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 1.44 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. The stock's fifty day moving average price is $142.58 and its 200 day moving average price is $151.12. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company 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 in the previous year, the firm posted $0.98 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Tuesday, April 8th. UBS Group cut their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company raised 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, TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of "Hold" and a consensus price target of $160.47.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 237 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider directly owned 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone 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.