Stokes Family Office LLC Grows Position in Blackstone Inc. (NYSE:BX)

Stokes Family Office LLC boosted its position in Blackstone Inc. (NYSE:BX) by 5.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,717 shares of the asset manager’s stock after purchasing an additional 149 shares during the quarter. Stokes Family Office LLC’s holdings in Blackstone were worth $356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in Blackstone by 25.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 10,337 shares of the asset manager’s stock valued at $1,353,000 after purchasing an additional 2,070 shares during the period. Summit Global Investments acquired a new position in shares of Blackstone during the fourth quarter worth about $231,000. Aveo Capital Partners LLC acquired a new position in shares of Blackstone during the fourth quarter worth about $217,000. Doheny Asset Management CA acquired a new position in shares of Blackstone during the fourth quarter worth about $226,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Blackstone by 11.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 7,480 shares of the asset manager’s stock worth $979,000 after purchasing an additional 745 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction 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 in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock worth $37,816,476 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group boosted 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. Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Piper Sandler cut their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Argus boosted their price target on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley boosted their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $123.65.

Blackstone Stock Performance

Shares of NYSE:BX traded down $1.00 during trading on Friday, hitting $117.99. 4,437,459 shares of the company traded hands, compared to its average volume of 3,497,968. The stock has a market capitalization of $84.32 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 0.99 and a beta of 1.52. The business’s fifty day moving average is $125.29 and its 200-day moving average is $118.76. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, equities analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is 117.31%.

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.