Eagle Wealth Strategies LLC Takes Position in Blackstone Inc. (NYSE:BX)

Eagle Wealth Strategies LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,484 shares of the asset manager’s stock, valued at approximately $456,000.

Several other hedge funds have also recently added to or reduced their stakes in BX. Bourgeon Capital Management LLC lifted its position in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc bought a new stake in Blackstone during the 4th quarter worth approximately $30,000. Exchange Traded Concepts LLC lifted its holdings in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Blackstone during the 4th quarter worth $33,000. Finally, Family CFO Inc acquired a new position in Blackstone during the 3rd quarter worth $33,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BX shares. Argus upped their price objective on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Piper Sandler lowered their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. UBS Group upped their price objective on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, TD Cowen lowered their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Trading Up 1.1 %

Shares of BX stock opened at $123.88 on Monday. 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 Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The firm has a 50 day moving average price of $125.96 and a two-hundred day moving average price of $118.57. The company has a market capitalization of $88.53 billion, a PE ratio of 43.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.68%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 over the last three months. 1.00% of the stock is owned by insiders.

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.