Infrastructure Capital Advisors LLC Buys 4,348 Shares of Blackstone Inc. $BX

Infrastructure Capital Advisors LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 105.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,486 shares of the asset manager’s stock after acquiring an additional 4,348 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Blackstone were worth $1,308,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at about $30,000. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter worth approximately $30,000. Family CFO Inc acquired a new position in Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone in the 4th quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 355 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the acquisition, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 12,355,303 shares of company stock worth $264,789,896. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.3%

Shares of BX stock opened at $124.89 on Thursday. The stock’s fifty day moving average is $120.76 and its two-hundred day moving average is $130.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $92.78 billion, a P/E ratio of 31.94, a PEG ratio of 1.39 and a beta of 1.59. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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 company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. Research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

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

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. Argus dropped their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. BMO Capital Markets raised their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada assumed coverage on Blackstone in a research report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Citizens Jmp decreased their target price on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.