Blackstone Inc. (NYSE:BX) is BigSur Wealth Management LLC's 7th Largest Position

BigSur Wealth Management LLC grew its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 9.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 68,396 shares of the asset manager's stock after acquiring an additional 6,091 shares during the period. Blackstone comprises about 2.6% of BigSur Wealth Management LLC's holdings, making the stock its 7th largest holding. BigSur Wealth Management LLC's holdings in Blackstone were worth $9,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after buying an additional 889,286 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after buying an additional 444,887 shares during the last quarter. Northern Trust Corp grew its stake in shares of Blackstone by 10.8% in the 4th 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. boosted its stake in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after purchasing an additional 371,677 shares during the last quarter. Finally, Norges Bank purchased a new stake in Blackstone during the 4th quarter valued at $974,448,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BX. Morgan Stanley cut their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Cowen reiterated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Bank of America cut their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of "Hold" and an average target price of $155.65.

Blackstone Stock Performance

Blackstone stock traded down $4.42 during trading on Friday, reaching $136.37. The company had a trading volume of 3,021,337 shares, compared to its average volume of 3,806,703. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm's 50-day simple moving average is $136.51 and its 200 day simple moving average is $155.62. The firm has a market capitalization of $99.50 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

Blackstone Cuts Dividend

The firm 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 of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.73%. Blackstone's dividend payout ratio is presently 112.05%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 237 shares of the business's stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director now directly owns 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. 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.