Mirador Capital Partners LP Has $11.50 Million Position in Blackstone Inc. (NYSE:BX)

Mirador Capital Partners LP increased its holdings in Blackstone Inc. (NYSE:BX) by 1.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 87,543 shares of the asset manager’s stock after purchasing an additional 905 shares during the quarter. Blackstone comprises about 2.2% of Mirador Capital Partners LP’s portfolio, making the stock its 9th biggest holding. Mirador Capital Partners LP’s holdings in Blackstone were worth $11,501,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in Blackstone by 111.0% during the 3rd quarter. Acadian Asset Management LLC now owns 5,071 shares of the asset manager’s stock valued at $541,000 after purchasing an additional 2,668 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Blackstone by 6,500.0% during the 3rd quarter. Federated Hermes Inc. now owns 3,828 shares of the asset manager’s stock worth $410,000 after acquiring an additional 3,770 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Blackstone by 158.9% during the 3rd quarter. Natixis Advisors L.P. now owns 50,351 shares of the asset manager’s stock worth $5,395,000 after acquiring an additional 30,905 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Blackstone by 141.5% during the 3rd quarter. Bank of Nova Scotia now owns 81,279 shares of the asset manager’s stock worth $8,712,000 after acquiring an additional 47,621 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Blackstone during the 3rd quarter worth $386,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Blackstone Stock Performance

Shares of NYSE:BX traded up $0.54 during midday trading on Monday, hitting $124.34. The company’s stock had a trading volume of 185,863 shares, compared to its average volume of 3,464,493. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of 43.75, a PEG ratio of 1.04 and a beta of 1.50. The stock’s 50 day simple moving average is $122.37 and its 200 day simple moving average is $124.53. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, research analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced 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. This represents a $3.32 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Argus raised their price objective on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays restated an “equal weight” rating and issued a $125.00 target price (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. UBS Group increased their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $123.65.

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.