Guyasuta Investment Advisors Inc. Takes $223,000 Position in Blackstone Inc. (NYSE:BX)

Guyasuta Investment Advisors Inc. acquired a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,700 shares of the asset manager’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bourgeon Capital Management LLC lifted its holdings in Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new position in Blackstone during the fourth quarter valued at approximately $30,000. Exchange Traded Concepts LLC lifted its holdings in Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Blackstone during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

NYSE BX opened at $120.62 on Tuesday. The firm’s fifty day simple moving average is $125.82 and its two-hundred day simple moving average is $118.68. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The firm has a market capitalization of $86.20 billion, a P/E ratio of 42.62, a P/E/G ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. Analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.75%. Blackstone’s payout ratio is currently 117.31%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $115.00 to $128.00 in a research report on Wednesday, January 3rd. TD Cowen reduced their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets boosted their price target on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.65.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, 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 value of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.