DE Burlo Group Inc. Boosts Stake in Blackstone Inc. (NYSE:BX)

DE Burlo Group Inc. increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,253 shares of the asset manager's stock after purchasing an additional 40,700 shares during the quarter. Blackstone comprises about 3.2% of DE Burlo Group Inc.'s portfolio, making the stock its 13th biggest position. DE Burlo Group Inc.'s holdings in Blackstone were worth $23,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of BX. Avidian Wealth Enterprises LLC boosted its holdings in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after buying an additional 59 shares in the last quarter. McIlrath & Eck LLC grew its position in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock worth $1,970,000 after purchasing an additional 62 shares in the last quarter. McAdam LLC grew its position in Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after purchasing an additional 63 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Bank of America dropped their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $154.82.

Blackstone Price Performance

Shares of NYSE:BX traded up $2.87 during trading on Thursday, reaching $134.58. The company had a trading volume of 2,169,534 shares, compared to its average volume of 3,763,284. The company has a fifty day moving average of $139.76 and a two-hundred day moving average of $163.62. The stock has a market capitalization of $98.16 billion, a P/E ratio of 37.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company 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 earned $0.98 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Insider Activity

In related news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

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.