5,346 Shares in Blackstone Inc. (NYSE:BX) Acquired by Lionshead Wealth Management LLC

Lionshead Wealth Management LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,346 shares of the asset manager’s stock, valued at approximately $922,000.

Several other hedge funds also recently made changes to their positions in BX. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone during the fourth quarter valued at $30,000. Roxbury Financial LLC purchased a new position in Blackstone during the fourth quarter valued at $34,000. Murphy & Mullick Capital Management Corp purchased a new position in Blackstone during the fourth quarter valued at $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in Blackstone during the fourth quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BX has been the subject of a number of recent research reports. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley decreased their price target on Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. JMP Securities restated a “market outperform” rating and issued a $165.00 price target on shares of Blackstone in a research note on Thursday, April 24th. Finally, Bank of America decreased their price target on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $154.82.

Blackstone Price Performance

BX stock opened at $139.41 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $101.72 billion, a PE ratio of 38.40, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The business’s fifty day moving average price is $136.87 and its 200 day moving average price is $162.18.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company earned $0.98 EPS. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.67%. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider now directly owns 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by corporate insiders.

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.