10Elms LLP Invests $813,000 in Blackstone Inc. (NYSE:BX)

10Elms LLP purchased a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,714 shares of the asset manager's stock, valued at approximately $813,000. Blackstone makes up approximately 0.8% of 10Elms LLP's portfolio, making the stock its 26th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Blackstone by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after acquiring an additional 444,887 shares during the last quarter. Northern Trust Corp raised its stake in shares of Blackstone by 10.8% during the fourth quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock worth $1,209,707,000 after buying an additional 681,512 shares during the last quarter. Invesco Ltd. grew its stake in shares of Blackstone by 6.6% during the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after purchasing an additional 371,677 shares during the period. Finally, Norges Bank bought a new stake in shares of Blackstone in the 4th quarter valued at about $974,448,000. Institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BX. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Friday. UBS Group dropped their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Finally, TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $155.65.

Blackstone Price Performance

BX traded down $0.70 on Monday, hitting $136.23. 2,608,968 shares of the stock were exchanged, compared to its average volume of 3,794,288. The business has a 50-day moving average of $137.02 and a two-hundred day moving average of $160.33. The firm has a market capitalization of $99.40 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period last year, the business earned $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is currently 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.