Guyasuta Investment Advisors Inc. Buys 9,000 Shares of Blackstone Inc. $BX

Guyasuta Investment Advisors Inc. grew its position in Blackstone Inc. (NYSE:BXFree Report) by 200.0% during the first quarter, HoldingsChannel reports. The firm owned 13,500 shares of the asset manager’s stock after buying an additional 9,000 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Blackstone were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BX. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter valued at about $30,000. Family CFO Inc acquired a new position in shares of Blackstone during the 4th quarter worth about $28,000. Ares Financial Consulting LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new position in Blackstone in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new stake in shares of Blackstone in the third quarter valued at approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the acquisition, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 9,487,234 shares of company stock worth $189,789,892. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada began coverage on shares of Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Rothschild & Co Redburn reduced their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. The Goldman Sachs Group lowered their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, TD Cowen reduced their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.86.

Check Out Our Latest Research Report on BX

Blackstone Price Performance

Blackstone stock opened at $120.12 on Wednesday. The business has a 50 day simple moving average of $121.33 and a 200 day simple moving average of $129.86. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a market capitalization of $89.23 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the business earned $1.11 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Blackstone Company Profile

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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