PBMares Wealth Management LLC Has $791,000 Holdings in Blackstone Inc. (NYSE:BX)

PBMares Wealth Management LLC trimmed its holdings in Blackstone Inc. (NYSE:BX) by 29.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,657 shares of the asset manager’s stock after selling 2,308 shares during the quarter. PBMares Wealth Management LLC’s holdings in Blackstone were worth $791,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the fourth quarter worth $34,000. Putney Financial Group LLC acquired a new stake in Blackstone in the fourth quarter worth about $34,000. Garde Capital Inc. acquired a new position in Blackstone during the 1st quarter valued at about $36,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $46,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.4%

Blackstone stock opened at $138.30 on Tuesday. The stock has a market cap of $100.91 billion, a P/E ratio of 41.66, a P/E/G ratio of 1.26 and a beta of 1.65. The company’s 50-day moving average price is $137.39 and its two-hundred day moving average price is $153.29. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 19.84% and a net margin of 19.83%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, analysts expect 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. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BX shares. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Citigroup dropped their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company raised their target price on shares of Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. JMP Securities restated a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Finally, UBS Group dropped their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $155.65.

Insider Activity

In related news, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company 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.