Madison Park Capital Advisors LLC Purchases New Holdings in Blackstone Inc. (NYSE:BX)

Madison Park Capital Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,677 shares of the asset manager’s stock, valued at approximately $2,183,000. Blackstone comprises about 2.1% of Madison Park Capital Advisors LLC’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds also recently added to or reduced their stakes in BX. Bourgeon Capital Management LLC grew its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Blackstone during the fourth quarter valued at approximately $30,000. Exchange Traded Concepts LLC boosted its stake in shares of Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Family CFO Inc bought a new position in shares of Blackstone during the third quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $33,000. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TD Cowen decreased their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Piper Sandler decreased their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Finally, UBS Group raised their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $122.94.

Blackstone Price Performance

Shares of NYSE BX traded up $2.13 during midday trading on Tuesday, hitting $124.22. The stock had a trading volume of 3,378,502 shares, compared to its average volume of 3,717,697. The company has a market capitalization of $88.77 billion, a PE ratio of 43.89, a P/E/G ratio of 0.98 and a beta of 1.51. The stock has a 50 day simple moving average of $126.30 and a 200-day simple moving average of $118.20. Blackstone Inc. has a 1 year low of $79.92 and a 1 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 posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, sell-side analysts expect that Blackstone Inc. will post 4.82 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.67%. Blackstone’s dividend payout ratio (DPR) is 132.86%.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s 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 transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction 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 transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of Blackstone 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 completion of the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock valued at $37,816,476 over the last quarter. 1.00% of the stock is owned by 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.