Insigneo Advisory Services LLC Acquires 2,745 Shares of Blackstone Inc. (NYSE:BX)

Insigneo Advisory Services LLC increased its position in Blackstone Inc. (NYSE:BX - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,463 shares of the asset manager's stock after purchasing an additional 2,745 shares during the quarter. Blackstone accounts for 0.7% of Insigneo Advisory Services LLC's portfolio, making the stock its 21st largest position. Insigneo Advisory Services LLC's holdings in Blackstone were worth $6,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone in the fourth quarter worth about $33,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

BX traded up $0.88 on Friday, hitting $130.26. 4,576,278 shares of the stock traded hands, compared to its average volume of 3,711,992. The business has a fifty day moving average price of $145.13 and a two-hundred day moving average price of $164.76. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a market capitalization of $95.01 billion, a PE ratio of 35.88, a P/E/G ratio of 1.07 and a beta of 1.61.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.86%. Blackstone's payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. TD Cowen reduced their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $155.72.

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.