Union Savings Bank Makes New Investment in Blackstone Inc. $BX

Union Savings Bank purchased a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,489 shares of the asset manager’s stock, valued at approximately $1,308,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC bought a new stake in Blackstone during the 3rd quarter worth approximately $30,000. Strive Asset Management LLC bought a new position in Blackstone in the third quarter valued at approximately $30,000. Family CFO Inc bought a new stake in shares of Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $28,000. Finally, Richardson Financial Services Inc. bought a new stake in Blackstone in the 4th quarter valued at $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 0.0%

BX stock opened at $123.78 on Friday. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.34 and a beta of 1.59. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The business has a 50 day moving average price of $121.11 and a two-hundred day moving average price of $130.35. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating 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. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. Analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Activity

In other news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 9,487,234 shares of company stock valued at $189,789,892 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. Citizens Jmp dropped their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Morgan Stanley decreased their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.86.

Blackstone 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.