Madison Park Capital Advisors LLC Acquires New Position in Blackstone Inc. (NYSE:BX)

Madison Park Capital Advisors LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 16,677 shares of the asset manager’s stock, valued at approximately $2,183,000. Blackstone makes up 2.1% of Madison Park Capital Advisors LLC’s portfolio, making the stock its 17th biggest holding.

Several other large investors have also bought and sold shares of the business. Bourgeon Capital Management LLC raised its holdings in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc bought a new stake in shares of Blackstone during the fourth quarter worth $30,000. Exchange Traded Concepts LLC increased its position in shares of Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Blackstone during the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone during the third quarter worth $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BX has been the subject of several research reports. UBS Group increased their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Piper Sandler decreased their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Morgan Stanley raised their target price on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Barclays reaffirmed an “equal weight” rating and issued a $125.00 target price (down previously from $129.00) on shares of Blackstone in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $122.94.

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred 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 sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of NYSE BX traded up $2.13 during mid-day trading on Tuesday, reaching $124.22. 3,378,502 shares of the company were exchanged, compared to its average volume of 3,717,697. The company’s 50-day simple moving average is $126.30 and its 200-day simple moving average is $118.20. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $88.77 billion, a P/E ratio of 43.89, a P/E/G ratio of 0.98 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. As a group, research analysts predict that Blackstone Inc. will post 4.82 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is 132.86%.

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.