Note Advisors LLC Takes $202,000 Position in Blackstone Inc. (NYSE:BX)

Note Advisors LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,174 shares of the asset manager’s stock, valued at approximately $202,000.

A number of other hedge funds also recently modified their holdings of BX. Avidian Wealth Enterprises LLC increased its holdings in Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after acquiring an additional 62 shares in the last quarter. McAdam LLC boosted its stake in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after acquiring an additional 63 shares in the last quarter. CENTRAL TRUST Co grew its holdings in Blackstone by 0.6% in the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock worth $1,903,000 after purchasing an additional 63 shares during the period. Finally, Catalina Capital Group LLC boosted its position in shares of Blackstone by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager’s stock worth $365,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BX shares. Cowen reissued a “buy” rating on shares of Blackstone in a research note on Monday, April 21st. UBS Group decreased their target price on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods cut their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $154.82.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 237 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now directly owns 475,336 shares of the company’s stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of BX stock opened at $144.10 on Wednesday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm’s 50-day simple moving average is $137.50 and its two-hundred day simple moving average is $161.16. The firm has a market cap of $105.14 billion, a price-to-earnings ratio of 39.70, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company posted $0.98 earnings per share. As a group, equities analysts forecast 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. Shareholders of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.58%. Blackstone’s dividend payout ratio is presently 112.05%.

Blackstone 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.