Blackstone Inc. (NYSE:BX) Stock Holdings Increased by Accel Wealth Management

Accel Wealth Management boosted its position in Blackstone Inc. (NYSE:BX) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,251 shares of the asset manager’s stock after buying an additional 1,765 shares during the quarter. Accel Wealth Management’s holdings in Blackstone were worth $1,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares during the period. Norges Bank acquired a new position in Blackstone in the fourth quarter valued at approximately $708,859,000. International Assets Investment Management LLC boosted its stake in Blackstone by 13,816.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after acquiring an additional 3,597,828 shares during the period. Lone Pine Capital LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $290,514,000. Finally, Capital World Investors boosted its stake in Blackstone by 4.2% in the fourth quarter. Capital World Investors now owns 33,738,986 shares of the asset manager’s stock valued at $4,417,140,000 after acquiring an additional 1,367,581 shares during the period. 70.00% of the stock is owned by institutional investors.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Up 0.2 %

NYSE:BX traded up $0.19 during trading hours on Thursday, reaching $123.40. The company’s stock had a trading volume of 2,102,519 shares, compared to its average volume of 2,597,676. The company has a market cap of $88.19 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. Blackstone Inc. has a one year low of $88.59 and a one year high of $133.56. The business’s 50-day moving average is $122.35 and its 200-day moving average is $124.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, April 26th. Blackstone’s payout ratio is presently 117.31%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BX. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Argus boosted their price objective on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley boosted their price objective on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. TD Cowen reduced their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Finally, Bank of America cut their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.65.

About Blackstone

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.