Blackstone Inc. $BX Stock Holdings Lifted by State Street Corp

State Street Corp lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,542,009 shares of the asset manager's stock after buying an additional 179,213 shares during the quarter. State Street Corp owned approximately 4.27% of Blackstone worth $4,861,885,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BX. Redwood Financial Network Corp boosted its holdings in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock worth $537,000 after purchasing an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its holdings in shares of Blackstone by 0.9% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock worth $1,194,000 after purchasing an additional 69 shares during the period. MidWestOne Financial Group Inc. boosted its holdings in shares of Blackstone by 0.8% during the third quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager's stock worth $1,424,000 after purchasing an additional 70 shares during the period. Parcion Private Wealth LLC boosted its holdings in shares of Blackstone by 0.6% during the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager's stock worth $1,686,000 after purchasing an additional 70 shares during the period. Finally, Trivium Point Advisory LLC boosted its holdings in shares of Blackstone by 2.6% during the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager's stock worth $418,000 after purchasing an additional 70 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares of the company's stock, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider directly owned 18,628,295 shares of the company's stock, valued at $487,129,914.25. This trade represents a 18.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 12,355,303 shares of company stock valued at $264,789,896 in the last three months. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 1.5%

NYSE:BX opened at $122.63 on Friday. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The firm has a market cap of $91.10 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 1.31 and a beta of 1.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $119.98 and its 200-day moving average is $131.03.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm posted $1.11 earnings per share. The company's quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone's payout ratio is 118.67%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Rothschild & Co Redburn cut their price objective on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday. Weiss Ratings lowered shares of Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. HSBC cut their price objective on shares of Blackstone from $164.00 to $131.00 and set a "hold" rating on the stock in a research report on Friday, April 10th. Finally, Argus cut their price objective on shares of Blackstone from $163.00 to $146.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $150.86.

Blackstone Company Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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