Winthrop Partners WNY LLC Invests $1.04 Million in Blackstone Inc. $BX

Winthrop Partners WNY LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,759 shares of the asset manager’s stock, valued at approximately $1,042,000.

A number of other large investors have also recently made changes to their positions in the business. Redmont Wealth Advisors LLC bought a new stake in Blackstone during the 3rd quarter valued at about $30,000. Strive Asset Management LLC purchased a new position in Blackstone in the third quarter valued at about $30,000. Family CFO Inc purchased a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in Blackstone in the fourth quarter valued at about $29,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat purchased 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 9,487,234 shares of company stock worth $189,789,892 in the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. Barclays reduced their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group lowered their target price on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Royal Bank Of Canada began coverage on Blackstone in a report on Monday, June 8th. They issued an “outperform” rating on the stock. Finally, Oppenheimer raised their price objective on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Blackstone Trading Down 0.0%

Shares of Blackstone stock opened at $123.78 on Friday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day moving average price of $121.11 and a 200 day moving average price of $130.35. The company has a market capitalization of $91.95 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.34 and a beta of 1.59.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. Sell-side analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

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

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.