Regent Peak Wealth Advisors LLC Purchases New Position in Blackstone Inc. (NYSE:BX)

Regent Peak Wealth Advisors LLC purchased a new stake in Blackstone Inc. (NYSE:BXFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,612 shares of the asset manager’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Coppell Advisory Solutions LLC acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $25,000. Halpern Financial Inc. grew its position in shares of Blackstone by 327.1% during the 3rd quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Blackstone by 763.0% during the 4th 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. DHJJ Financial Advisors Ltd. acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the sale, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 3.6 %

BX opened at $126.32 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $126.33 and its 200 day moving average is $116.41. Blackstone Inc. has a fifty-two week low of $79.29 and a fifty-two week high of $133.56. The firm has a market capitalization of $90.27 billion, a P/E ratio of 69.03, a PEG ratio of 1.05 and a beta of 1.51.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Research analysts expect that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were paid a $0.94 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.98%. Blackstone’s dividend payout ratio (DPR) is presently 205.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BX. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price target for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research note on Wednesday, December 20th. Bank of America upped their price target on shares of Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $119.25.

Get Our Latest Analysis on BX

About Blackstone

(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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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