Bamco Inc. NY Has $135.47 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Bamco Inc. NY grew its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 785,682 shares of the asset manager's stock after buying an additional 15,788 shares during the quarter. Bamco Inc. NY owned approximately 0.11% of Blackstone worth $135,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at $63,109,000. Wealthcare Capital Partners LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $2,102,000. Highland Capital Management LLC increased its holdings in shares of Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock valued at $3,845,000 after purchasing an additional 15,205 shares in the last quarter. Nordea Investment Management AB boosted its position in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after buying an additional 4,688 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 1.5 %

Blackstone stock traded down $2.09 during mid-day trading on Tuesday, reaching $134.02. The company's stock had a trading volume of 2,862,756 shares, compared to its average volume of 3,764,536. The business's 50 day simple moving average is $137.96 and its 200 day simple moving average is $162.87. Blackstone Inc. has a 12 month low of $115.66 and a 12 month 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 company has a market capitalization of $97.76 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period last year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.78%. Blackstone's payout ratio is 112.05%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 237 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. The trade was a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,660,538 shares of company stock worth $24,981,930. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BX. UBS Group cut their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Piper Sandler reduced their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $154.82.

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.