Infrastructure Capital Advisors LLC Boosts Position in Blackstone Inc. $BX

Infrastructure Capital Advisors LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 105.1% during the 4th quarter, Holdings Channel reports. The fund owned 8,486 shares of the asset manager’s stock after buying an additional 4,348 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Blackstone were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth about $30,000. Strive Asset Management LLC acquired a new position in Blackstone in the third quarter valued at about $30,000. Family CFO Inc acquired a new position in Blackstone in the fourth quarter valued at about $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone in the fourth quarter valued at about $28,000. Finally, Richardson Financial Services Inc. acquired a new position in Blackstone in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating on the stock. Morgan Stanley decreased their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.86.

Insider Activity

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the purchase, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought a total of 12,355,303 shares of company stock valued at $264,789,896 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 2.3%

Shares of NYSE:BX opened at $124.89 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $92.78 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.59. The firm’s 50-day moving average is $120.76 and its two-hundred day moving average is $130.56. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is presently 118.67%.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.