Kapstone Financial Advisors LLC Makes New $212,000 Investment in Blackstone Inc. (NYSE:BX)

Kapstone Financial Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,716 shares of the asset manager’s stock, valued at approximately $212,000.

A number of other hedge funds have also modified their holdings of BX. Bourgeon Capital Management LLC boosted its position in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new position in shares of Blackstone during the fourth quarter worth $30,000. Exchange Traded Concepts LLC boosted its position in shares of Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares during the last quarter. Family CFO Inc bought a new position in shares of Blackstone during the third quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Blackstone during the fourth quarter valued at $33,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ruth Porat purchased 232 shares of the stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the acquisition, the director now owns 34,225 shares of the company’s stock, valued at $4,349,313. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Ruth Porat acquired 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $127.08 per share, with a total value of $29,482.56. Following the transaction, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on 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 directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.0 %

Blackstone stock traded down $0.04 during midday trading on Friday, hitting $122.49. 2,962,718 shares of the company’s stock were exchanged, compared to its average volume of 3,161,162. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56. The firm has a 50-day moving average of $125.96 and a two-hundred day moving average of $118.49. The company has a market cap of $87.54 billion, a PE ratio of 43.28, a P/E/G ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last issued 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 company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

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

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company upped their price target on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. TD Cowen reduced their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Finally, BMO Capital Markets increased their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.65.

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.