Roble Belko & Company Inc Has $687,000 Stock Position in Blackstone Inc. (NYSE:BX)

Roble Belko & Company Inc increased its position in shares of Blackstone Inc. (NYSE:BX) by 2,183.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,229 shares of the asset manager’s stock after purchasing an additional 5,000 shares during the quarter. Roble Belko & Company Inc’s holdings in Blackstone were worth $687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Financial Advisors bought a new position in shares of Blackstone in the 4th quarter valued at about $25,000. Bourgeon Capital Management LLC boosted its stake in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Advantage Trust Co bought a new position in Blackstone during the 4th quarter worth approximately $30,000. Exchange Traded Concepts LLC boosted its stake in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Blackstone during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.56 during trading on Friday, reaching $124.12. The company’s stock had a trading volume of 5,209,800 shares, compared to its average volume of 2,518,062. The business’s 50-day moving average price is $122.03 and its 200-day moving average price is $124.10. The firm has a market cap of $88.70 billion, a PE ratio of 43.86, a P/E/G ratio of 1.04 and a beta of 1.53. Blackstone Inc. has a 52 week low of $87.40 and a 52 week high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.67%. Blackstone’s dividend payout ratio is 117.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BX shares. UBS Group lifted their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley boosted their target price on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, Barclays restated an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $123.65.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 219 shares of the stock in a transaction on 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 owns 34,445 shares in the company, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.