Ibex Wealth Advisors Purchases 807 Shares of Blackstone Inc. (NYSE:BX)

Ibex Wealth Advisors lifted its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,679 shares of the asset manager’s stock after buying an additional 807 shares during the quarter. Ibex Wealth Advisors’ holdings in Blackstone were worth $5,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. SJS Investment Consulting Inc. lifted its stake in shares of Blackstone by 335.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 2,749 shares of the asset manager’s stock worth $384,000 after purchasing an additional 2,117 shares during the last quarter. Sonora Investment Management Group LLC lifted its stake in shares of Blackstone by 2.2% during the 1st quarter. Sonora Investment Management Group LLC now owns 142,003 shares of the asset manager’s stock worth $19,849,000 after purchasing an additional 3,122 shares during the last quarter. Ameliora Wealth Management Ltd. raised its stake in Blackstone by 4.6% in the first quarter. Ameliora Wealth Management Ltd. now owns 5,186 shares of the asset manager’s stock valued at $725,000 after buying an additional 226 shares during the last quarter. Ayrshire Capital Management LLC grew its stake in shares of Blackstone by 24.9% during the first quarter. Ayrshire Capital Management LLC now owns 12,416 shares of the asset manager’s stock worth $1,735,000 after acquiring an additional 2,474 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Blackstone during the first quarter worth about $1,886,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $139.89 on Tuesday. The stock has a fifty day simple moving average of $135.32 and a 200-day simple moving average of $156.79. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $102.07 billion, a PE ratio of 38.54, a P/E/G ratio of 1.07 and a beta of 1.65.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the business earned $0.98 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. UBS Group dropped their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Cowen reissued a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Barclays boosted their price target on Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Finally, Piper Sandler decreased their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $155.65.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 237 shares of the stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now owns 37,067 shares of the company’s stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

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.