Davidson Kahn Capital Management LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Davidson Kahn Capital Management LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,840 shares of the asset manager's stock, valued at approximately $1,352,000. Blackstone accounts for approximately 1.2% of Davidson Kahn Capital Management LLC's portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Morse Asset Management Inc grew its holdings in Blackstone by 0.7% during the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager's stock worth $1,720,000 after acquiring an additional 80 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock worth $156,000 after acquiring an additional 62 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Blackstone during the third quarter valued at approximately $5,163,000. Stock Yards Bank & Trust Co. grew its position in Blackstone by 2.5% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager's stock valued at $3,961,000 after purchasing an additional 624 shares during the period. Finally, World Investment Advisors LLC raised its holdings in Blackstone by 1.8% during the third quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager's stock worth $10,646,000 after buying an additional 1,238 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on BX shares. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Barclays boosted their price objective on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Bank of America lowered 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. Finally, TD Cowen decreased their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of "Hold" and an average price target of $154.82.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone 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 transaction, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Shares of NYSE BX traded down $1.27 during mid-day trading on Monday, reaching $136.15. 2,638,647 shares of the company were exchanged, compared to its average volume of 3,766,758. The stock has a market capitalization of $99.31 billion, a PE ratio of 37.51, a PEG 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 Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company's 50 day moving average price is $138.89 and its 200 day moving average price is $163.32.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio (DPR) 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.