1,698 Shares in Blackstone Inc. (NYSE:BX) Bought by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,698 shares of the asset manager’s stock, valued at approximately $222,000.

Several other large investors have also added to or reduced their stakes in BX. Bourgeon Capital Management LLC raised its position in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc bought a new position in shares of Blackstone in the fourth quarter valued at about $30,000. Exchange Traded Concepts LLC raised its position in shares of Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the period. Family CFO Inc bought a new position in Blackstone during the third quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Blackstone during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on BX shares. Bank of America lowered their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Argus raised their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Barclays restated an “equal weight” rating and issued a $125.00 price target (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $123.65.

Blackstone Stock Down 0.7 %

BX stock traded down $0.92 during midday trading on Friday, reaching $122.44. 2,962,411 shares of the company’s stock traded hands, compared to its average volume of 3,686,269. The company has a market cap of $87.50 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 1.03 and a beta of 1.51. The firm’s fifty day moving average price is $126.08 and its 200-day moving average price is $118.27. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52 week low of $79.92 and a 52 week high of $133.56.

Blackstone (NYSE:BX) last posted its 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. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue was up 166.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a 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.