Vima LLC Invests $86,000 in Blackstone Inc. (NYSE:BX)

Vima LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 653 shares of the asset manager’s stock, valued at approximately $86,000.

A number of other large investors also recently made changes to their positions in BX. Creekmur Asset Management LLC bought a new stake in Blackstone during the fourth quarter valued at approximately $341,000. Transcendent Capital Group LLC purchased a new stake in Blackstone during the 4th quarter valued at about $65,000. Scarborough Advisors LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $32,000. EP Wealth Advisors LLC boosted its holdings in shares of Blackstone by 4.1% in the fourth quarter. EP Wealth Advisors LLC now owns 21,398 shares of the asset manager’s stock worth $2,801,000 after buying an additional 843 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC bought a new stake in Blackstone during the 4th quarter worth approximately $48,000. 70.00% of the stock is owned by institutional investors.

Insider Activity

In other Blackstone news, Director Ruth Porat purchased 219 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Bank of America lowered their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Barclays reissued an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, TD Cowen decreased their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.65.

Blackstone Price Performance

Shares of BX traded down $0.96 during midday trading on Friday, reaching $121.25. The stock had a trading volume of 1,685,481 shares, compared to its average volume of 2,907,827. Blackstone Inc. has a 52 week low of $87.40 and a 52 week high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50 day moving average price is $122.46 and its 200-day moving average price is $123.65. The company has a market capitalization of $86.65 billion, a P/E ratio of 42.84, a P/E/G ratio of 1.02 and a beta of 1.53.

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

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.74%. Blackstone’s dividend payout ratio is 117.31%.

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.