Blackstone Inc. (NYSE:BX) is O ROURKE & COMPANY Inc’s 3rd Largest Position

O ROURKE & COMPANY Inc increased its holdings in Blackstone Inc. (NYSE:BX) by 2.3% in the 1st quarter, HoldingsChannel reports. The fund owned 65,886 shares of the asset manager’s stock after purchasing an additional 1,481 shares during the quarter. Blackstone makes up approximately 5.0% of O ROURKE & COMPANY Inc’s holdings, making the stock its 3rd biggest holding. O ROURKE & COMPANY Inc’s holdings in Blackstone were worth $8,655,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new position in Blackstone in the fourth quarter worth approximately $25,000. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc acquired a new position in Blackstone during the fourth quarter worth $30,000. Advantage Trust Co acquired a new position in Blackstone during the fourth quarter worth $30,000. Finally, Exchange Traded Concepts LLC lifted its stake in Blackstone by 763.0% during the fourth 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. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of a number of research reports. UBS Group upped their price target on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. reduced their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Morgan Stanley increased their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Barclays reiterated an “equal weight” rating and issued a $125.00 price objective (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $123.65.

Blackstone Stock Performance

Shares of BX stock traded down $1.57 during mid-day trading on Monday, hitting $122.23. 3,330,446 shares of the stock were exchanged, compared to its average volume of 3,491,555. The stock has a market capitalization of $87.35 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 1.04 and a beta of 1.50. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $133.56. The stock’s fifty day simple moving average is $122.37 and its two-hundred day simple moving average is $124.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79.

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

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.72%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 219 shares of the business’s stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

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.