Kingstone Capital Partners Texas LLC Acquires Shares of 13,493 Blackstone Inc. (NYSE:BX)

Kingstone Capital Partners Texas LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,493 shares of the asset manager’s stock, valued at approximately $1,886,000. Blackstone makes up approximately 1.5% of Kingstone Capital Partners Texas LLC’s holdings, making the stock its 26th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone in the fourth quarter worth approximately $34,000. Roxbury Financial LLC bought a new stake in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. bought a new position in Blackstone in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.4%

NYSE:BX opened at $139.89 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market capitalization of $102.07 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.07 and a beta of 1.65. The company’s 50-day simple moving average is $135.32 and its 200-day simple moving average is $156.79. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.66%. Blackstone’s payout ratio is 112.05%.

Insider Activity at Blackstone

In other news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director now directly owns 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. Bank of America decreased their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. UBS Group reduced their price objective on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company upped their target price on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $155.65.

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.