Nuveen Asset Management LLC Has $389.08 Million Holdings in Blackstone Inc. (NYSE:BX)

Nuveen Asset Management LLC lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,256,604 shares of the asset manager's stock after purchasing an additional 379,481 shares during the period. Nuveen Asset Management LLC owned about 0.31% of Blackstone worth $389,084,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $33,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone in the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Blackstone in the fourth quarter valued at $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX traded down $0.07 during midday trading on Friday, hitting $146.69. 3,788,921 shares of the company's stock were exchanged, compared to its average volume of 3,774,479. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market cap of $107.03 billion, a P/E ratio of 40.41, a PEG ratio of 1.07 and a beta of 1.67. The stock's 50 day moving average price is $137.25 and its 200-day moving average price is $161.48.

Blackstone (NYSE:BX - Get Free Report) last released 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). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the company posted $0.98 EPS. Equities research analysts anticipate 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. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BX. Wells Fargo & Company cut their target price on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock 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. Citigroup lowered their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Finally, Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $154.82.

Insider Buying and Selling

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was acquired 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 approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Ruth Porat purchased 301 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This represents a 0.82% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,660,538 shares of company stock valued at $24,981,930 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Blackstone 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.