Axxcess Wealth Management LLC Purchases 3,225 Shares of Blackstone Inc. (NYSE:BX)

Axxcess Wealth Management LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,704 shares of the asset manager’s stock after purchasing an additional 3,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Blackstone were worth $6,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Marino Stram & Associates LLC raised its stake in Blackstone by 3.8% during the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock worth $339,000 after acquiring an additional 96 shares in the last quarter. FFT Wealth Management LLC increased its stake in shares of 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 buying an additional 99 shares during the period. Mayfair Advisory Group LLC increased its stake in shares of 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 buying an additional 100 shares during the period. Hartford Financial Management Inc. increased its stake in shares of Blackstone by 23.0% in the fourth quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager’s stock valued at $70,000 after buying an additional 100 shares during the period. Finally, Bourgeon Capital Management LLC increased its stake in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. Piper Sandler lowered their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Argus increased their target price 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. Barclays reissued an “equal weight” rating and set a $125.00 target price (down previously from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Finally, TD Cowen decreased their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.65.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last three months. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Down 0.8 %

NYSE BX traded down $1.00 on Friday, reaching $117.99. The company had a trading volume of 4,437,459 shares, compared to its average volume of 3,497,968. The stock has a market capitalization of $84.32 billion, a P/E ratio of 41.69, a P/E/G ratio of 0.99 and a beta of 1.52. The company’s fifty day moving average is $125.29 and its 200 day moving average is $118.76. Blackstone Inc. has a 52-week low of $79.92 and a 52-week high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion during 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%. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Sell-side analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.81%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

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.