Opinicus Capital Inc. Has $2.05 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Opinicus Capital Inc. reduced its holdings in Blackstone Inc. (NYSE:BX) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,633 shares of the asset manager’s stock after selling 993 shares during the period. Blackstone comprises about 1.8% of Opinicus Capital Inc.’s holdings, making the stock its 14th largest holding. Opinicus Capital Inc.’s holdings in Blackstone were worth $2,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BX. Mather Group LLC. increased its position in Blackstone by 1.2% in the 1st quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after purchasing an additional 87 shares during the last quarter. Fragasso Group Inc. increased its holdings in Blackstone by 2.9% in the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after buying an additional 91 shares during the last quarter. UNIVEST FINANCIAL Corp lifted its stake in Blackstone by 2.9% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock valued at $435,000 after acquiring an additional 95 shares during the last quarter. Marino Stram & Associates LLC increased its stake in shares of Blackstone by 3.8% during the 4th quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock worth $339,000 after purchasing an additional 96 shares during the last quarter. Finally, FFT Wealth Management LLC raised its holdings in shares of Blackstone by 2.0% during the 4th quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock valued at $667,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley increased their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Argus boosted their target price on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TD Cowen dropped their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Finally, Bank of America cut their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.65.

Blackstone Trading Down 0.3 %

Shares of BX traded down $0.32 on Friday, reaching $123.80. 4,058,890 shares of the company’s stock were exchanged, compared to its average volume of 2,587,450. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $133.56. The stock has a market capitalization of $88.47 billion, a P/E ratio of 43.75, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $122.37 and a two-hundred day moving average price of $124.42.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.68%. Blackstone’s payout ratio is 117.31%.

Insider Activity

In other news, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the purchase, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.