McAdam LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

McAdam LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,733 shares of the asset manager’s stock, valued at approximately $227,000.

Several other large investors also recently bought and sold shares of BX. Vanguard Group Inc. boosted its position in shares of Blackstone by 30.2% during the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after acquiring an additional 14,396,655 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock worth $1,588,433,000 after acquiring an additional 1,744,652 shares in the last quarter. Northern Trust Corp boosted its position in shares of Blackstone by 43.9% during the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after acquiring an additional 2,098,150 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Blackstone by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 6,106,889 shares of the asset manager’s stock worth $654,292,000 after acquiring an additional 92,112 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Blackstone by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 5,246,005 shares of the asset manager’s stock worth $562,058,000 after acquiring an additional 106,251 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the firm’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 value of $3,694,498.60. Following the completion of the transaction, the director now directly owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $116.60 on Wednesday. The company has a market cap of $83.33 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The stock has a 50 day simple moving average of $125.63 and a 200-day simple moving average of $118.77. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued 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 business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. On average, equities analysts forecast that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Wall Street Analysts Forecast Growth

BX has been the subject of several analyst reports. UBS Group upped their price objective on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. BMO Capital Markets upped their target price on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. TheStreet cut Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. TD Cowen decreased their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. decreased their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $123.65.

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.