McAdam LLC Buys Shares of 1,733 Blackstone Inc. (NYSE:BX)

McAdam LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,733 shares of the asset manager’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BX. Mather Group LLC. boosted its position in shares of Blackstone by 245.6% during the fourth quarter. Mather Group LLC. now owns 7,026 shares of the asset manager’s stock worth $920,000 after buying an additional 4,993 shares during the period. Eagle Wealth Strategies LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $456,000. Magnus Financial Group LLC boosted its position in shares of Blackstone by 25.7% during the fourth quarter. Magnus Financial Group LLC now owns 16,854 shares of the asset manager’s stock worth $2,207,000 after buying an additional 3,444 shares during the period. Kapstone Financial Advisors LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $212,000. Finally, Opinicus Capital Inc. acquired a new position in shares of Blackstone during the fourth quarter worth approximately $2,177,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on BX. Barclays reissued an “equal weight” rating and set a $125.00 target price (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. Piper Sandler dropped their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Bank of America dropped their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, UBS Group boosted their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $123.65.

Insider Activity

In other 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 transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 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 in the company, valued at $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $116.60 on Wednesday. The company’s fifty day moving average is $125.63 and its two-hundred day moving average is $118.77. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a market cap of $83.33 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (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 company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.97 EPS. The company’s revenue was up 166.9% on a year-over-year basis. Equities analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio is currently 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.