Bayesian Capital Management LP Buys Shares of 9,596 Blackstone Inc. (NYSE:BX)

Bayesian Capital Management LP bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,596 shares of the asset manager's stock, valued at approximately $1,655,000.

Other large investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of Blackstone during the 4th quarter worth $63,109,000. Wealthcare Capital Partners LLC bought a new stake in shares of Blackstone during the 4th quarter valued at approximately $2,102,000. Highland Capital Management LLC grew its stake in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock worth $3,845,000 after buying an additional 15,205 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Blackstone by 8.8% during the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after acquiring an additional 4,688 shares in the last quarter. Finally, Vanguard Group Inc. raised 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 valued at $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In other news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the acquisition, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,660,538 shares of company stock worth $24,981,930. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley reduced their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Citigroup lowered their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays increased their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $154.82.

Blackstone Stock Performance

BX stock traded up $3.68 during midday trading on Thursday, hitting $139.82. The company's stock had a trading volume of 4,851,555 shares, compared to its average volume of 3,771,458. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $102.02 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.07 and a beta of 1.67. The stock's 50-day moving average price is $137.46 and its 200 day moving average price is $162.68. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.66%. Blackstone's payout ratio is 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.