Accel Wealth Management Has $1.87 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Accel Wealth Management increased its stake in shares of Blackstone Inc. (NYSE:BX) by 14.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,251 shares of the asset manager’s stock after buying an additional 1,765 shares during the period. Accel Wealth Management’s holdings in Blackstone were worth $1,872,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Blackstone by 6,500.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,828 shares of the asset manager’s stock valued at $410,000 after buying an additional 3,770 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Blackstone by 16.9% in the 3rd quarter. Gotham Asset Management LLC now owns 11,512 shares of the asset manager’s stock valued at $1,233,000 after buying an additional 1,661 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Blackstone in the 3rd quarter valued at approximately $573,000. Truist Financial Corp increased its position in Blackstone by 10.6% during the 3rd quarter. Truist Financial Corp now owns 288,436 shares of the asset manager’s stock worth $30,903,000 after purchasing an additional 27,534 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Blackstone in the 3rd quarter valued at approximately $75,609,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.2 %

Shares of BX stock traded up $0.19 on Thursday, hitting $123.40. The stock had a trading volume of 2,102,519 shares, compared to its average volume of 2,597,676. The business has a 50 day moving average of $122.35 and a 200 day moving average of $124.44. The stock has a market cap of $88.19 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $133.56.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, analysts expect that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.69%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. UBS Group upped their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Argus upped their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays reaffirmed an “equal weight” rating and issued a $125.00 price objective (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, Piper Sandler reduced their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.65.

Insider Buying and Selling

In related news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently 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.