Pinnacle Wealth Management Advisory Group LLC Has $460,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,510 shares of the asset manager’s stock after acquiring an additional 237 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Blackstone were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bourgeon Capital Management LLC lifted its position in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Blackstone in the fourth quarter valued at approximately $30,000. Exchange Traded Concepts LLC increased its holdings in 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 buying an additional 206 shares during the last quarter. Family CFO Inc bought a new position in shares of Blackstone during the 3rd quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Blackstone in the 4th quarter worth about $33,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. UBS Group increased their price objective on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $123.65.

Blackstone Stock Performance

Shares of NYSE BX traded up $2.66 during trading on Thursday, hitting $122.46. The company had a trading volume of 2,616,585 shares, compared to its average volume of 3,659,761. The stock has a 50 day simple moving average of $124.96 and a 200 day simple moving average of $119.45. The firm has a market capitalization of $87.52 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 0.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. Blackstone Inc. has a 12 month low of $80.28 and a 12 month high of $133.56.

Blackstone (NYSE:BX) last posted 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 for the quarter, compared to analysts’ expectations 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 firm earned $0.97 earnings per share. As a group, analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 232 shares of the stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the acquisition, the director now owns 34,225 shares of the company’s stock, valued at $4,349,313. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ruth Porat acquired 232 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,851 shares of company stock valued at $357,137 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.