Lionshead Wealth Management LLC Acquires New Holdings in Blackstone Inc. (NYSE:BX)

Lionshead Wealth Management LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,346 shares of the asset manager's stock, valued at approximately $922,000.

Other hedge funds have also made changes to their positions in the company. Hager Investment Management Services LLC purchased a new position in Blackstone in the fourth quarter worth $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $33,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BX. UBS Group dropped their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Bank of America dropped their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Morgan Stanley reduced their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $154.82.

Blackstone Stock Down 1.2%

NYSE:BX traded down $1.72 during trading hours on Thursday, hitting $146.70. The stock had a trading volume of 3,396,532 shares, compared to its average volume of 3,779,507. The business has a 50 day simple moving average of $136.93 and a two-hundred day simple moving average of $161.87. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $107.04 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the company posted $0.98 EPS. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is currently 112.05%.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat purchased 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,660,538 shares of company stock valued at $24,981,930. Insiders own 1.00% of the company's stock.

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.