Integral Investment Advisors Inc. Invests $212,000 in Blackstone Inc. (NYSE:BX)

Integral Investment Advisors Inc. acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,622 shares of the asset manager’s stock, valued at approximately $212,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC increased its holdings in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of 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 purchasing an additional 206 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Blackstone during the fourth quarter worth $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Blackstone during the second quarter valued at $25,000. Finally, Family CFO Inc purchased a new position in Blackstone in the 3rd quarter valued at about $33,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Down 2.4 %

NYSE BX traded down $3.01 on Thursday, reaching $120.18. The company had a trading volume of 4,360,099 shares, compared to its average volume of 3,702,302. The firm has a market capitalization of $85.89 billion, a PE ratio of 67.32, a P/E/G ratio of 0.99 and a beta of 1.51. The firm has a 50-day moving average of $126.81 and a 200-day moving average of $117.64. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities research analysts anticipate that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.76%. Blackstone’s dividend payout ratio is presently 205.46%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The disclosure for this sale can be found here. In the last three months, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on BX shares. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $116.00 to $124.00 in a research note on Friday, January 19th. BMO Capital Markets lifted their price objective on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Bank of America increased their target price on Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Finally, TD Cowen assumed coverage on shares of Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $119.97.

About Blackstone

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.