111 Capital Takes Position in Blackstone Inc. (NYSE:BX)

111 Capital acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,420 shares of the asset manager's stock, valued at approximately $762,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Thoma Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $800,000. NorthCrest Asset Manangement LLC lifted its position in shares of Blackstone by 3.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 23,986 shares of the asset manager's stock valued at $4,136,000 after buying an additional 894 shares in the last quarter. Tableaux LLC purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $304,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in Blackstone in the 4th quarter valued at $41,070,000. Finally, Old North State Trust LLC lifted its holdings in Blackstone by 4.8% in the 4th quarter. Old North State Trust LLC now owns 8,124 shares of the asset manager's stock valued at $1,401,000 after purchasing an additional 373 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Down 0.3%

Shares of NYSE:BX traded down $0.43 during midday trading on Friday, reaching $138.45. 6,190,012 shares of the company's stock were exchanged, compared to its average volume of 3,794,766. The firm's 50 day simple moving average is $135.83 and its two-hundred day simple moving average is $159.00. 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 stock has a market cap of $101.02 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates 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 business posted $0.98 earnings per share. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BX. Wells Fargo & Company raised their price objective on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. JMP Securities restated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. TD Cowen decreased their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays raised their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus price target of $155.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ruth Porat bought 237 shares of the company's stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% 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 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.