Brown Advisory Inc. Cuts Holdings in Blackstone Inc. (NYSE:BX)

Brown Advisory Inc. lowered its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,026 shares of the asset manager's stock after selling 66,396 shares during the quarter. Brown Advisory Inc. owned about 0.22% of Blackstone worth $277,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Bangor Savings Bank increased its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone in the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $30,000. Roxbury Financial LLC acquired a new stake in Blackstone in the 4th quarter worth approximately $34,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Blackstone during the 4th quarter valued at approximately $33,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BX shares. Wells Fargo & Company dropped their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Citigroup reduced their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. 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 report on Tuesday, April 22nd. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus price target of $154.82.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 237 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was purchased 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 of the company's stock, valued at approximately $5,053,344.11. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was purchased 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 of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,660,538 shares of company stock valued at $24,981,930. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Shares of BX stock traded down $2.09 during trading hours on Tuesday, hitting $134.02. 2,862,756 shares of the company's stock were exchanged, compared to its average volume of 3,764,536. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market cap of $97.76 billion, a P/E ratio of 36.92, a P/E/G ratio of 1.07 and a beta of 1.67. 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 firm has a 50 day moving average of $137.96 and a two-hundred day moving average of $162.87.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data 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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the business earned $0.98 earnings per share. Sell-side 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. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

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.