16,626 Shares in Blackstone Inc. (NYSE:BX) Acquired by Opinicus Capital Inc.

Opinicus Capital Inc. purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,626 shares of the asset manager's stock, valued at approximately $2,177,000. Blackstone comprises about 2.2% of Opinicus Capital Inc.'s investment portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. raised its position in Blackstone by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager's stock worth $40,348,000 after buying an additional 15,875 shares during the last quarter. Chicago Capital LLC purchased a new position in Blackstone during the 4th quarter worth $3,734,000. Kampmann Melissa S. purchased a new position in Blackstone during the 3rd quarter worth $2,314,000. The Manufacturers Life Insurance Company raised its position in Blackstone by 1,722.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager's stock worth $54,046,000 after buying an additional 476,768 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in Blackstone by 536.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager's stock worth $1,726,000 after buying an additional 11,110 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BX. Barclays reiterated an "equal weight" rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. The Goldman Sachs Group downgraded shares of Blackstone from a "buy" rating to a "neutral" rating and increased their price target for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. Argus increased their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler cut their price target on shares of Blackstone from $150.00 to $146.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th. Finally, Citigroup cut shares of Blackstone from a "buy" rating to a "neutral" rating and increased their price objective for the company from $116.00 to $124.00 in a research note on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $123.65.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Blackstone news, Director Ruth Porat purchased 232 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the acquisition, the director now owns 34,225 shares of the company's stock, valued at approximately $4,349,313. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares in the company, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last three months. Company insiders own 1.00% of the company's stock.

Blackstone Trading Down 0.0 %

Shares of Blackstone stock traded down $0.04 during mid-day trading on Friday, hitting $122.49. 2,962,718 shares of the stock were exchanged, compared to its average volume of 3,161,162. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The stock has a market capitalization of $87.54 billion, a price-to-earnings ratio of 43.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The company has a 50-day simple moving average of $125.96 and a 200 day simple moving average of $118.49. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm's revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Research analysts forecast that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.71%. Blackstone's payout ratio is currently 132.86%.

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.