422 Shares in Blackstone Inc. (NYSE:BX) Bought by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. acquired a new position in Blackstone Inc. (NYSE:BXFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 422 shares of the asset manager’s stock, valued at approximately $55,000.

A number of other large investors have also recently made changes to their positions in BX. Leo Wealth LLC bought a new position in shares of Blackstone in the fourth quarter worth about $755,000. Vanguard Group Inc. grew its holdings in Blackstone by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 62,972,648 shares of the asset manager’s stock valued at $8,244,379,000 after buying an additional 880,745 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Blackstone in the 4th quarter valued at $48,000. Willner & Heller LLC purchased a new position in shares of Blackstone during the fourth quarter valued at about $678,000. Finally, Fisher Asset Management LLC increased its position in Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BX shares. Morgan Stanley upped their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. TD Cowen cut their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Piper Sandler dropped their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Argus upped their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.65.

Get Our Latest Report on BX

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 0.8 %

Shares of NYSE:BX traded up $0.91 on Monday, reaching $122.16. The company had a trading volume of 1,756,026 shares, compared to its average volume of 3,537,728. Blackstone Inc. has a 52-week low of $87.40 and a 52-week high of $133.56. The firm’s 50 day simple moving average is $122.46 and its 200-day simple moving average is $123.85. The firm has a market capitalization of $87.30 billion, a PE ratio of 42.90, a PEG ratio of 1.02 and a beta of 1.53. 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:BXGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The company’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 business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, April 26th. Blackstone’s payout ratio is currently 117.31%.

Blackstone Company 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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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