Strategic Wealth Partners Ltd. Has $2.13 Million Holdings in Blackstone Inc. (NYSE:BX)

Strategic Wealth Partners Ltd. boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,247 shares of the asset manager’s stock after buying an additional 1,090 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Blackstone were worth $2,126,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SurgoCap Partners LP lifted its holdings in Blackstone by 20.1% in the fourth quarter. SurgoCap Partners LP now owns 961,828 shares of the asset manager’s stock valued at $165,838,000 after buying an additional 161,284 shares during the period. Shay Capital LLC acquired a new position in shares of Blackstone in the 4th quarter valued at about $207,000. SGL Investment Advisors Inc. bought a new stake in shares of Blackstone during the 4th quarter valued at about $233,000. Sherbrooke Park Advisers LLC bought a new stake in Blackstone in the fourth quarter worth approximately $315,000. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Blackstone by 3.9% during the 4th quarter. Rafferty Asset Management LLC now owns 256,010 shares of the asset manager’s stock worth $44,141,000 after buying an additional 9,699 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $146.69 on Friday. The stock has a market cap of $107.03 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 1.07 and a beta of 1.67. The stock’s 50-day moving average is $137.25 and its 200 day moving average is $161.48. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 1,660,538 shares of company stock worth $24,981,930 in the last ninety days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their price objective on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.