Magnus Financial Group LLC Increases Stock Position in Blackstone Inc. (NYSE:BX)

Magnus Financial Group LLC raised its position in Blackstone Inc. (NYSE:BX) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,854 shares of the asset manager’s stock after purchasing an additional 3,444 shares during the quarter. Magnus Financial Group LLC’s holdings in Blackstone were worth $2,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bourgeon Capital Management LLC raised its holdings 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 valued at $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc purchased a new position in shares of Blackstone in the fourth quarter valued at $30,000. Exchange Traded Concepts LLC increased its stake 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 during the period. Family CFO Inc purchased a new position in Blackstone in the 3rd quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $33,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ruth Porat bought 232 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ruth Porat purchased 232 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now owns 34,225 shares in the company, valued at approximately $4,349,313. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BX shares. Morgan Stanley lifted their price objective on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. BMO Capital Markets boosted their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. UBS Group lifted their price target on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods increased their price target on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $123.65.

Blackstone Trading Down 0.0 %

NYSE BX traded down $0.04 on Friday, hitting $122.49. 2,962,718 shares of the company were exchanged, compared to its average volume of 3,161,162. The company’s 50 day moving average price is $125.96 and its 200-day moving average price is $118.49. The firm has a market capitalization of $87.54 billion, a P/E ratio of 43.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. Blackstone’s dividend payout ratio is 132.86%.

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.