Vermillion & White Wealth Management Group LLC Purchases New Position in Blackstone Inc. (NYSE:BX)

Vermillion & White Wealth Management Group LLC purchased a new stake in Blackstone Inc. (NYSE:BXFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 432 shares of the asset manager’s stock, valued at approximately $57,000.

Other large investors have also recently modified their holdings of the company. Northwest Financial Advisors bought a new position in Blackstone in the fourth quarter worth approximately $25,000. Bourgeon Capital Management LLC raised its stake in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of Blackstone during the fourth quarter worth $30,000. Advantage Trust Co acquired a new position in shares of Blackstone during the fourth quarter worth $30,000. Finally, Exchange Traded Concepts LLC increased 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 purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.3 %

Shares of BX stock traded down $1.55 on Friday, reaching $117.62. 3,200,870 shares of the stock were exchanged, compared to its average volume of 3,000,355. The business’s 50 day moving average price is $123.10 and its 200 day moving average price is $123.15. Blackstone Inc. has a twelve month low of $86.17 and a twelve month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $84.06 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 1.00 and a beta of 1.53.

Blackstone (NYSE:BXGet Free Report) last posted 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 firm had revenue of $3.69 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.82%. Blackstone’s dividend payout ratio is presently 117.31%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research reports. TD Cowen cut their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Bank of America cut their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group upped their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Morgan Stanley upped their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Barclays reissued an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.65.

Check Out Our Latest Report on BX

Insider Activity

In other Blackstone news, Director Ruth Porat purchased 219 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Blackstone Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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