4,942 Shares in Blackstone Inc. $BX Bought by Gunpowder Capital Management LLC dba Oliver Wealth Management

Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,942 shares of the asset manager’s stock, valued at approximately $762,000.

Other large investors have also made changes to their positions in the company. Redwood Financial Network Corp boosted its holdings in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its stake in shares of Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after acquiring an additional 69 shares in the last quarter. Parcion Private Wealth LLC grew its holdings in shares of Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 70 shares during the period. Trivium Point Advisory LLC increased its stake in Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after purchasing an additional 70 shares in the last quarter. Finally, Zacks Investment Management boosted its position in Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock worth $590,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BX shares. Sanford C. Bernstein assumed coverage on Blackstone in a research note on Monday, June 8th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research report on Monday, June 8th. They set a “buy” rating for the company. Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada started coverage on Blackstone in a research report on Monday, June 8th. They set an “outperform” rating for the company. Finally, Oppenheimer increased their target price on Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 9,487,234 shares of company stock worth $189,789,892. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $123.78 on Friday. The business has a fifty day simple moving average of $121.11 and a 200-day simple moving average of $130.35. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a market cap of $91.95 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.34 and a beta of 1.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company earned $1.11 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.