Telemus Capital LLC Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Telemus Capital LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 2.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 82,423 shares of the asset manager’s stock after acquiring an additional 1,595 shares during the period. Blackstone comprises approximately 0.9% of Telemus Capital LLC’s investment portfolio, making the stock its 26th largest position. Telemus Capital LLC’s holdings in Blackstone were worth $10,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of BX. Bourgeon Capital Management LLC grew its position in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares in the last quarter. Family CFO Inc acquired a new position in Blackstone in the 3rd quarter valued at about $33,000. Bruce G. Allen Investments LLC acquired a new position in shares of Blackstone during the fourth quarter worth about $33,000. Finally, Provence Wealth Management Group acquired a new position in shares of Blackstone during the third quarter worth about $36,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The stock was 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 owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was 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 in the company, valued at approximately $50,294,783.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred 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 sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. UBS Group boosted their price objective on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. TD Cowen lowered their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday. Keefe, Bruyette & Woods upped their price target on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Wells Fargo & Company upped their price target on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets upped their price target on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $122.94.

Blackstone Stock Performance

NYSE BX opened at $122.09 on Tuesday. The firm has a market capitalization of $87.25 billion, a P/E ratio of 43.14, a P/E/G ratio of 0.98 and a beta of 1.51. Blackstone Inc. has a 1-year low of $79.92 and a 1-year 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 0.80. The business’s 50-day simple moving average is $126.31 and its 200-day simple moving average is $118.06.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Equities analysts predict that Blackstone Inc. will post 4.82 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.72%. Blackstone’s dividend payout ratio is presently 132.86%.

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.