Future Financial Wealth Managment LLC Acquires New Stake in Blackstone Inc. (NYSE:BX)

Future Financial Wealth Managment LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 900 shares of the asset manager’s stock, valued at approximately $118,000.

Several other large investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $25,000. Bourgeon Capital Management LLC boosted its position 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 purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new position in shares of Blackstone in the 4th quarter valued at about $30,000. Advantage Trust Co purchased a new stake in Blackstone during the fourth quarter worth about $30,000. Finally, Exchange Traded Concepts LLC increased its holdings in Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BX shares. Bank of America dropped their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Barclays restated an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Argus increased their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler reduced their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $123.65.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Blackstone stock opened at $124.20 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $88.76 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 1.04 and a beta of 1.53. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $133.56. The firm has a 50 day moving average price of $122.19 and a 200 day moving average price of $124.35.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. Sell-side analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.67%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Blackstone 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.