Minot DeBlois Advisors LLC bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,683 shares of the asset manager's stock, valued at approximately $980,000.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Blackstone in the 4th quarter worth $974,448,000. Raymond James Financial Inc. acquired a new position in shares of Blackstone in the 4th quarter worth $316,257,000. Capital Research Global Investors acquired a new position in shares of Blackstone in the 4th quarter worth $239,837,000. Vanguard Group Inc. boosted its position in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after buying an additional 889,286 shares during the period. Finally, FMR LLC boosted its position in shares of Blackstone by 38.8% in the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after buying an additional 835,170 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
BX has been the subject of several recent analyst reports. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. StockNews.com cut Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Finally, Citigroup reduced their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $154.82.
Check Out Our Latest Stock Report on BX
Blackstone Stock Performance
Shares of Blackstone stock traded down $0.07 during trading on Friday, reaching $146.69. The company's stock had a trading volume of 3,788,921 shares, compared to its average volume of 3,774,479. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $107.03 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The business's fifty day moving average price is $137.25 and its 200-day moving average price is $161.48.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is 112.05%.
Insider Buying and Selling at Blackstone
In other news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now directly owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Company Profile
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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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