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Scarborough Advisors LLC takes a $109,000 position in Blackstone Inc. (NYSE:BX)


Scarborough Advisors LLC established a new position in Blackstone Inc. during the fourth quarter. (NYSE:BX – Free Report), according to the latest filing with the Securities and Exchange Commission (SEC). The institutional investor bought 830 shares of the asset manager, worth approximately $109,000.

Other hedge funds and other institutional investors have also recently increased or decreased their stakes in the company. UNIVEST FINANCIAL Corp increased its stake in Blackstone by 2.9% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock worth $435,000 after purchasing an additional 95 shares in the last quarter. Marino Stram & Associates LLC increased its stake in Blackstone by 3.8% in the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock valued at $339,000 after purchasing an additional 96 shares in the last quarter. FFT Wealth Management LLC grew its holdings in Blackstone by 2.0% in the fourth quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock valued at $667,000 after purchasing an additional 99 shares in the last quarter. Mayfair Advisory Group LLC grew its stake in Blackstone by 2.7% in the fourth quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock valued at $484,000 after purchasing an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. its stake in Blackstone increased by 23.0% in the fourth quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager worth $70,000, after purchasing an additional 100 shares in the last quarter. 70.00% of the shares are owned by hedge funds and other institutional investors.

Buying and selling with insider information

In other Blackstone news, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the shares are owned by company insiders.

Blackstone is trading 0.8% lower

BX opened at $121.25 on Friday. The stock’s fifty-day moving average is $122.46 and its two-hundred-day moving average is $123.77. The company has a market cap of $86.65 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.02, and a beta of 1.53. Blackstone Inc. has a 52-week low of $87.40 and a 52-week high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX – Get Free Report) last announced its quarterly results on Thursday, April 18. The asset manager reported earnings per share (EPS) of $0.98 for the quarter, meeting analyst consensus expectations of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company posted earnings per share of $0.97. The company’s revenue increased by 166.9% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post earnings per share of 4.77 for the current year.

Blackstone cuts dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6. Well-known investors received a dividend of $0.83 per share on Monday, April 29. The ex-dividend date of this dividend was Friday, April 26. This represents a dividend of $3.32 annually and a yield of 2.74%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Wall Street analysts weigh in

A number of brokers have recently responded to BX. Piper Sandler lowered their price target on Blackstone from $150.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10. Morgan Stanley raised their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9. Argus raised their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24. Finally, TD Cowen lowered their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating on the company in a research note on Friday, April 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, Blackstone has an average rating of “Hold” and a consensus target price of $123.65.

Get our latest stock report on Blackstone

Blackstone Company Profile

(Free report)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondaries of funds, sovereign debt and equities and multi-asset class strategies. The company typically invests in early-stage companies. It also provides capital market services.

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Would you like to see which other hedge funds own BX? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Blackstone Inc. (NYSE:BX – Free Report).

Quarterly Institutional Ownership for Blackstone (NYSE:BX)



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