Doheny Asset Management CA Makes New $226,000 Investment in Blackstone Inc. (NYSE:BX)

Doheny Asset Management CA purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,725 shares of the asset manager’s stock, valued at approximately $226,000.

Several other institutional investors also recently modified their holdings of BX. Bourgeon Capital Management LLC increased its holdings in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc acquired a new stake in Blackstone in the fourth quarter valued at $30,000. Exchange Traded Concepts LLC increased its holdings in Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the period. Family CFO Inc acquired a new stake in Blackstone in the third quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Blackstone in the fourth quarter valued at $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 232 shares of the stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock traded up $1.74 during mid-day trading on Thursday, reaching $119.23. The company’s stock had a trading volume of 1,452,549 shares, compared to its average volume of 3,655,109. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a market capitalization of $85.21 billion, a P/E ratio of 41.51, a PEG ratio of 0.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. The firm’s fifty day moving average price is $125.45 and its two-hundred day moving average price is $118.76.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $2.56 billion. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

Wall Street Analyst Weigh In

A number of analysts have commented on BX shares. Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price target for the company from $116.00 to $124.00 in a research report on Friday, January 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. dropped their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.65.

Blackstone Company 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.