Moran Wealth Management LLC Has $15.66 Million Stake in Blackstone Inc. $BX

Moran Wealth Management LLC cut its stake in Blackstone Inc. (NYSE:BX) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,173 shares of the asset manager’s stock after selling 5,038 shares during the quarter. Moran Wealth Management LLC’s holdings in Blackstone were worth $15,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of BX. Family CFO Inc bought a new position in Blackstone during the 4th quarter valued at $28,000. Ares Financial Consulting LLC bought a new stake in shares of Blackstone in the 4th quarter worth $28,000. Richardson Financial Services Inc. bought a new position in shares of Blackstone during the fourth quarter valued at about $29,000. Strive Asset Management LLC purchased a new position in Blackstone during the third quarter worth about $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone in the 4th quarter valued at about $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the 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 sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ruth Porat purchased 355 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the acquisition, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 10,252,345 shares of company stock worth $209,789,893 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated coverage on Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. Royal Bank Of Canada began coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Argus decreased their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Oppenheimer boosted their price target on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, BMO Capital Markets increased their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.36.

Blackstone Stock Performance

NYSE:BX opened at $122.73 on Friday. The company has a market capitalization of $91.17 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.33 and a beta of 1.58. The business has a fifty day simple moving average of $119.67 and a two-hundred day simple moving average of $128.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Blackstone Company Profile

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.