1,900 Shares in Blackstone Inc. (NYSE:BX) Bought by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,900 shares of the asset manager's stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Blackstone in the fourth quarter worth $974,448,000. Raymond James Financial Inc. acquired a new position in Blackstone in the fourth quarter worth $316,257,000. Capital Research Global Investors acquired a new position in Blackstone in the fourth quarter worth $239,837,000. GAMMA Investing LLC boosted its holdings in Blackstone by 14,608.6% in the first quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock worth $184,873,000 after purchasing an additional 1,313,606 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the period. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BX. Wells Fargo & Company boosted their price target on shares of Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Morgan Stanley cut their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. 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 note on Tuesday, April 8th. UBS Group cut their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods cut their price objective 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $155.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruth Porat acquired 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The stock was acquired 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 directly owns 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Trading Down 1.9%

Shares of NYSE BX opened at $135.65 on Wednesday. The stock has a market cap of $98.97 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 1.27 and a beta of 1.65. The business has a 50 day simple moving average of $136.83 and a 200 day simple moving average of $154.88. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $0.98 EPS. On average, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.74%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.