NorthRock Partners LLC Has $1.78 Million Stake in Blackstone Inc. (NYSE:BX)

NorthRock Partners LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 160.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,336 shares of the asset manager’s stock after buying an additional 6,375 shares during the quarter. NorthRock Partners LLC’s holdings in Blackstone were worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BX. Brookstone Capital Management grew its position in Blackstone by 57.2% in the 4th quarter. Brookstone Capital Management now owns 9,422 shares of the asset manager’s stock valued at $1,625,000 after purchasing an additional 3,428 shares during the period. AdvisorNet Financial Inc grew its position in Blackstone by 57.8% in the 4th quarter. AdvisorNet Financial Inc now owns 12,694 shares of the asset manager’s stock valued at $2,189,000 after purchasing an additional 4,648 shares during the period. Signal Advisors Wealth LLC grew its position in Blackstone by 2.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 2,576 shares of the asset manager’s stock valued at $444,000 after purchasing an additional 66 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in Blackstone by 22.1% during the 4th quarter. Rosenberg Matthew Hamilton now owns 469 shares of the asset manager’s stock worth $81,000 after acquiring an additional 85 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its holdings in Blackstone by 29.5% during the 4th quarter. Accurate Wealth Management LLC now owns 6,489 shares of the asset manager’s stock worth $1,070,000 after acquiring an additional 1,478 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.0%

Shares of NYSE BX opened at $148.55 on Thursday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $108.39 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 1.07 and a beta of 1.67. The business has a 50-day moving average of $136.93 and a 200-day moving average of $161.87.

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

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was 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 owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 1,660,538 shares of company stock valued at $24,981,930 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America cut their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. JMP Securities reaffirmed a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. TD Cowen cut their price objective on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Piper Sandler lowered their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $154.82.

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.