Fairview Capital Investment Management LLC Has $116.76 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Fairview Capital Investment Management LLC trimmed its position in Blackstone Inc. (NYSE:BX - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 677,190 shares of the asset manager's stock after selling 37,182 shares during the quarter. Blackstone makes up 6.1% of Fairview Capital Investment Management LLC's portfolio, making the stock its 3rd biggest position. Fairview Capital Investment Management LLC owned 0.09% of Blackstone worth $116,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. Principal Financial Group Inc. grew its position in shares of Blackstone by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager's stock worth $139,302,000 after buying an additional 51,897 shares during the period. Nordea Investment Management AB grew its position 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 worth $10,053,000 after buying an additional 4,688 shares during the period. Diversified Trust Co lifted its holdings in shares of Blackstone by 8.3% during the 4th quarter. Diversified Trust Co now owns 9,534 shares of the asset manager's stock valued at $1,644,000 after purchasing an additional 730 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Blackstone by 0.9% during the 4th quarter. Fulton Bank N.A. now owns 11,202 shares of the asset manager's stock valued at $1,931,000 after purchasing an additional 103 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Blackstone by 232.1% during the 4th quarter. ORG Partners LLC now owns 279 shares of the asset manager's stock valued at $48,000 after purchasing an additional 195 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE BX traded down $0.09 during midday trading on Wednesday, reaching $148.51. The company's stock had a trading volume of 1,272,420 shares, compared to its average volume of 3,773,493. 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 fifty-two week low of $115.66 and a fifty-two week high of $200.96. The business's 50 day moving average price is $136.86 and its two-hundred day moving average price is $161.96. The company has a market cap of $108.36 billion, a P/E ratio of 40.91, a P/E/G ratio of 1.07 and a beta of 1.67.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid 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 dividend yield of 2.50%. Blackstone's payout ratio is presently 112.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America cut their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Morgan Stanley cut their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com cut Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $154.82.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business's stock in a transaction that occurred 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 purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider John G. Finley sold 25,000 shares of Blackstone 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 completion of the transaction, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is currently owned by insiders.

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.