Fjell Capital LLC Raises Stock Position in Blackstone Inc. (NYSE:BX)

by · The Cerbat Gem

Fjell Capital LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 9.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,565 shares of the asset manager’s stock after buying an additional 665 shares during the period. Fjell Capital LLC’s holdings in Blackstone were worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hager Investment Management Services LLC purchased a new position in Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone in the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter valued at approximately $34,000. Finally, Roxbury Financial LLC purchased a new position in Blackstone during the fourth quarter valued at $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent analyst reports. UBS Group lowered their price target on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley decreased their target price on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Piper Sandler cut their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Cowen reaffirmed a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Bank of America reduced their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $155.65.

View Our Latest Research Report on BX

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 237 shares of the business’s stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now owns 37,067 shares of the company’s stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

NYSE BX opened at $137.66 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $100.44 billion, a P/E ratio of 37.92, a PEG ratio of 1.07 and a beta of 1.67. The company has a 50-day moving average price of $135.52 and a 200-day moving average price of $157.96. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the prior year, the business earned $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.70%. Blackstone’s payout ratio is currently 112.05%.

Blackstone Profile

(Free Report)

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.

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