Blackstone Inc. (NYSE:BX) Shares Purchased by Manchester Capital Management LLC

Manchester Capital Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,391 shares of the asset manager’s stock after acquiring an additional 306 shares during the period. Manchester Capital Management LLC’s holdings in Blackstone were worth $577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Northwest Financial Advisors purchased a new position in Blackstone in the fourth quarter valued at $25,000. Bourgeon Capital Management LLC raised its holdings in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc purchased a new position in Blackstone during the fourth quarter worth approximately $30,000. Advantage Trust Co purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Morgan Stanley raised their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Argus increased their target price on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays raised their price objective on Blackstone from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $123.00.

Insider Activity

In related news, Director Ruth Porat bought 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat acquired 219 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.6 %

BX stock traded up $1.98 during midday trading on Friday, hitting $128.59. 516,105 shares of the company’s stock were exchanged, compared to its average volume of 3,408,543. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $133.56. The business has a 50-day simple moving average of $122.74 and a two-hundred day simple moving average of $124.26. The stock has a market capitalization of $91.90 billion, a PE ratio of 44.74, a P/E/G ratio of 1.06 and a beta of 1.50. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates 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%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, sell-side analysts predict that Blackstone Inc. will post 4.7 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is 117.31%.

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.