White Knight Strategic Wealth Advisors LLC Has $5.01 Million Position in Blackstone Inc. (NYSE:BX)

White Knight Strategic Wealth Advisors LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 93.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,060 shares of the asset manager’s stock after purchasing an additional 14,075 shares during the period. Blackstone makes up approximately 2.1% of White Knight Strategic Wealth Advisors LLC’s investment portfolio, making the stock its 12th biggest position. White Knight Strategic Wealth Advisors LLC’s holdings in Blackstone were worth $5,011,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Blackstone by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock worth $2,637,266,000 after purchasing an additional 444,887 shares during the last quarter. Northern Trust Corp raised its holdings in Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock valued at $1,209,707,000 after buying an additional 681,512 shares during the last quarter. Invesco Ltd. grew its holdings in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock worth $1,032,400,000 after acquiring an additional 371,677 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Blackstone during the fourth quarter valued at $974,448,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent research reports. Morgan Stanley cut their target price on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. TD Cowen decreased their price objective on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $154.82.

Insider Transactions at Blackstone

In related news, 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 transaction of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 0.9%

NYSE BX opened at $145.38 on Tuesday. The business has a fifty day simple moving average of $137.35 and a 200 day simple moving average of $161.28. The firm has a market capitalization of $106.08 billion, a P/E ratio of 40.05, a PEG ratio of 1.07 and a beta of 1.67. 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 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results 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 firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the business earned $0.98 EPS. On average, analysts predict 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. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is 112.05%.

Blackstone 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.