Scissortail Wealth Management LLC Buys New Shares in Blackstone Inc. (NYSE:BX)

Scissortail Wealth Management LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,082 shares of the asset manager’s stock, valued at approximately $266,000.

Other hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in Blackstone during the 2nd quarter worth about $25,000. Bourgeon Capital Management LLC boosted its stake in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Blackstone during the 3rd quarter worth about $33,000. Finally, Family CFO Inc purchased a new stake in shares of Blackstone during the 3rd quarter worth about $33,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. UBS Group raised their target price on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.92.

Blackstone Stock Up 0.6 %

Shares of NYSE:BX traded up $0.71 during trading on Wednesday, hitting $121.88. The company’s stock had a trading volume of 3,540,130 shares, compared to its average volume of 2,705,394. The company has a market capitalization of $87.10 billion, a PE ratio of 66.60, a P/E/G ratio of 0.99 and a beta of 1.51. The business has a 50 day moving average price of $126.87 and a two-hundred day moving average price of $117.60. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same period in the previous year, the company earned $1.07 EPS. As a group, research analysts expect that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were given a dividend of $0.94 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, February 2nd. Blackstone’s payout ratio is 205.46%.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock valued at $37,816,476 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.