Naviter Wealth LLC Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Naviter Wealth LLC increased its stake in Blackstone Inc. (NYSE:BX) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,213 shares of the asset manager’s stock after buying an additional 288 shares during the quarter. Naviter Wealth LLC’s holdings in Blackstone were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Bourgeon Capital Management LLC grew its holdings in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Blackstone during the 4th quarter worth approximately $30,000. Exchange Traded Concepts LLC boosted its holdings in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the period. Family CFO Inc purchased a new stake in Blackstone in the third quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at $33,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. UBS Group increased their price objective on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods upped their target price on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Bank of America dropped their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $123.65.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction 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 sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’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 value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last three months. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Down 1.2 %

Blackstone stock opened at $119.17 on Tuesday. Blackstone Inc. has a 1-year low of $79.92 and a 1-year high of $133.56. The stock has a market capitalization of $85.16 billion, a price-to-earnings ratio of 42.62, a PEG ratio of 1.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. The business has a fifty day moving average price of $125.82 and a 200-day moving average price of $118.68.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. Blackstone’s revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. Equities research analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.79%. Blackstone’s payout ratio is presently 117.31%.

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.