Blackstone Inc. (NYSE:BX) Shares Sold by Darlington Partners Capital Management LP

Darlington Partners Capital Management LP lessened its stake in Blackstone Inc. (NYSE:BX - Free Report) by 49.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 599,227 shares of the asset manager's stock after selling 587,404 shares during the period. Blackstone accounts for about 3.9% of Darlington Partners Capital Management LP's holdings, making the stock its 9th biggest position. Darlington Partners Capital Management LP owned approximately 0.08% of Blackstone worth $103,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Blackstone by 2.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,195,551 shares of the asset manager's stock worth $895,817,000 after acquiring an additional 144,926 shares in the last quarter. Colonial Trust Co SC boosted its position in Blackstone by 7.9% during the fourth quarter. Colonial Trust Co SC now owns 39,104 shares of the asset manager's stock valued at $6,742,000 after purchasing an additional 2,855 shares during the last quarter. CoreCap Advisors LLC boosted its position in Blackstone by 148.7% during the fourth quarter. CoreCap Advisors LLC now owns 7,308 shares of the asset manager's stock worth $1,260,000 after purchasing an additional 4,370 shares during the period. Crestline Management LP grew its position in Blackstone by 128.9% during the fourth quarter. Crestline Management LP now owns 5,300 shares of the asset manager's stock worth $914,000 after buying an additional 2,985 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Blackstone by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 298,292 shares of the asset manager's stock worth $51,431,000 after acquiring an additional 6,810 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Performance

Shares of BX opened at $136.11 on Thursday. The firm has a 50-day moving average price of $137.46 and a 200 day moving average price of $162.68. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The firm has a market capitalization of $99.28 billion, a PE ratio of 37.49, 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.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2.95 billion. During the same period last year, the business earned $0.98 EPS. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business 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 was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. Blackstone's payout ratio is presently 112.05%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat bought 237 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the transaction, 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 disclosure for this purchase can be found here. Insiders have bought a total of 1,660,538 shares of company stock worth $24,981,930 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BX shares. Bank of America cut their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Barclays lifted their price target 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. Piper Sandler cut their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. 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, the stock currently has an average rating of "Hold" and an average target price 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.

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