Minot DeBlois Advisors LLC Acquires New Shares in Blackstone Inc. (NYSE:BX)

Minot DeBlois Advisors LLC bought a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,683 shares of the asset manager's stock, valued at approximately $980,000.

Several other hedge funds also recently bought and sold shares of the company. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the 4th quarter valued at about $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone during the 4th quarter valued at about $34,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone during the 4th quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Institutional investors own 70.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BX shares. TD Cowen reduced their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. UBS Group reduced their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup reduced their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Cowen restated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Finally, Bank of America dropped their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $154.82.

Insider Buying and Selling

In related news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were bought 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 owns 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 disclosure for this purchase can be found here. In the last three months, insiders have bought 1,660,538 shares of company stock worth $24,981,930. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

BX stock traded down $0.07 during midday trading on Friday, reaching $146.69. The stock had a trading volume of 3,788,921 shares, compared to its average volume of 3,775,198. The stock has a market cap of $107.03 billion, a PE ratio of 40.41, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a fifty day simple moving average of $137.08 and a two-hundred day simple moving average of $161.71. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $2.76 billion for 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 quarter in the previous year, the business posted $0.98 EPS. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

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

About Blackstone

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.