Rossmore Private Capital Grows Position in Blackstone Inc. $BX

Rossmore Private Capital increased its position in shares of Blackstone Inc. (NYSE:BX) by 34.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,227 shares of the asset manager’s stock after buying an additional 6,214 shares during the period. Rossmore Private Capital’s holdings in Blackstone were worth $3,734,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. REAP Financial Group LLC purchased a new stake in shares of Blackstone during the third quarter worth approximately $26,000. Family CFO Inc purchased a new position in Blackstone in the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone in the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Blackstone in the third quarter valued at approximately $30,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Holdings I. L.P. Blackstone sold 25,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the sale, the insider directly owned 125,000 shares of the company’s stock, valued at $2,375,000. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction 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 sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 4,015,297 shares of company stock valued at $105,053,996 and sold 9,128,660 shares valued at $46,457,920. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $117.96 on Monday. The company has a market capitalization of $87.63 billion, a P/E ratio of 30.17, a PEG ratio of 1.29 and a beta of 1.63. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The business has a 50 day simple moving average of $117.10 and a 200-day simple moving average of $134.63. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. TD Cowen dropped their price target on shares of Blackstone from $141.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Morgan Stanley dropped their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Finally, The Goldman Sachs Group decreased their price objective on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $151.36.

About Blackstone

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.