Aveo Capital Partners LLC Acquires Shares of 1,659 Blackstone Inc. (NYSE:BX)

Aveo Capital Partners LLC bought a new position in Blackstone Inc. (NYSE:BXFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,659 shares of the asset manager’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BX. Illinois Municipal Retirement Fund purchased a new position in shares of Blackstone during the fourth quarter valued at about $855,000. Asset Management One Co. Ltd. lifted its stake in shares of Blackstone by 5.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares during the period. Chicago Capital LLC purchased a new stake in Blackstone in the fourth quarter worth $3,734,000. Kampmann Melissa S. purchased a new position in Blackstone during the third quarter valued at $2,314,000. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Blackstone by 536.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after buying an additional 11,110 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. TD Cowen reduced their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Barclays reissued an “equal weight” rating and issued a $125.00 target price (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Argus upped their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $123.65.

View Our Latest Research Report on BX

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

NYSE BX opened at $119.21 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $85.19 billion, a P/E ratio of 42.12, a PEG ratio of 1.01 and a beta of 1.53. The company has a 50-day moving average price of $123.98 and a 200-day moving average price of $123.01. Blackstone Inc. has a 52 week low of $83.43 and a 52 week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. Equities research analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.79%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

About Blackstone

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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