Artemis Investment Management LLP Has $4.51 Million Stake in Blackstone Inc. (NYSE:BX)

Artemis Investment Management LLP decreased its position in Blackstone Inc. (NYSE:BX - Free Report) by 67.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,278 shares of the asset manager's stock after selling 65,395 shares during the period. Artemis Investment Management LLP's holdings in Blackstone were worth $4,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its holdings in Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock valued at $1,874,000 after buying an additional 6,878 shares during the period. Diversified Trust Co increased its stake in Blackstone by 14.4% in the first quarter. Diversified Trust Co now owns 10,906 shares of the asset manager's stock valued at $1,524,000 after purchasing an additional 1,372 shares in the last quarter. Tranquility Partners LLC increased its stake in Blackstone by 2.6% in the first quarter. Tranquility Partners LLC now owns 75,671 shares of the asset manager's stock valued at $10,577,000 after purchasing an additional 1,919 shares in the last quarter. PDS Planning Inc increased its stake in Blackstone by 28.8% in the first quarter. PDS Planning Inc now owns 2,711 shares of the asset manager's stock valued at $379,000 after purchasing an additional 606 shares in the last quarter. Finally, Beech Hill Advisors Inc. increased its stake in Blackstone by 7.0% in the first quarter. Beech Hill Advisors Inc. now owns 25,660 shares of the asset manager's stock valued at $3,587,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays lifted their price target 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. Piper Sandler decreased their price target on shares of 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 target price on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, JMP Securities reissued a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $155.65.

Blackstone Stock Up 2.1%

Blackstone stock opened at $151.29 on Friday. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market cap of $110.39 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65. The firm's 50-day simple moving average is $138.66 and its 200 day simple moving average is $152.64. 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 released its earnings results 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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is 112.05%.

Insider Buying and Selling at Blackstone

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

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.

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