Alteri Wealth LLC Buys New Stake in Blackstone Inc. (NYSE:BX)

Alteri Wealth LLC acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,479 shares of the asset manager's stock, valued at approximately $1,290,000.

Several other hedge funds also recently modified their holdings of BX. Vanguard Group Inc. boosted its position in 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 purchasing an additional 889,286 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Blackstone by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after buying an additional 444,887 shares during the period. Northern Trust Corp grew its stake in shares of Blackstone by 10.8% during the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock worth $1,209,707,000 after acquiring an additional 681,512 shares during the period. Invesco Ltd. raised its stake in Blackstone by 6.6% in the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after acquiring an additional 371,677 shares during the period. Finally, Norges Bank bought a new position in Blackstone during the fourth quarter worth about $974,448,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on BX shares. Morgan Stanley dropped their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. Citigroup cut their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and an average price target of $154.82.

Blackstone Trading Up 1.6 %

NYSE:BX traded up $2.11 during midday trading on Wednesday, reaching $136.11. 3,029,565 shares of the stock traded hands, compared to its average volume of 3,761,605. The stock has a market capitalization of $99.28 billion, a P/E ratio of 37.49, a PEG ratio of 1.07 and a beta of 1.67. The company has a fifty day moving average of $137.96 and a 200 day moving average of $162.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS 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 $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.73%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

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.