Uhlmann Price Securities LLC Has $5.17 Million Stock Holdings in Blackstone Inc. $BX

Uhlmann Price Securities LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 12.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,989 shares of the asset manager’s stock after purchasing an additional 5,057 shares during the period. Blackstone accounts for approximately 0.3% of Uhlmann Price Securities LLC’s portfolio, making the stock its 8th biggest holding. Uhlmann Price Securities LLC’s holdings in Blackstone were worth $5,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strive Asset Management LLC bought a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Family CFO Inc bought a new position in Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone in the 4th quarter worth $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Blackstone during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 0.0%

Shares of BX opened at $123.78 on Friday. The stock has a 50 day simple moving average of $121.11 and a 200-day simple moving average of $130.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $91.95 billion, a PE ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. On average, sell-side analysts predict that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Activity

In other news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 9,487,234 shares of company stock valued at $189,789,892. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. The Goldman Sachs Group cut their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Jefferies Financial Group boosted their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Evercore reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a research report on Tuesday, April 21st. Finally, Piper Sandler boosted their price target on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.