Blackstone Inc. (NYSE:BX) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,871 shares of the asset manager's stock after acquiring an additional 17,804 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Blackstone were worth $17,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BX. Meiji Yasuda Asset Management Co Ltd. raised its stake in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after purchasing an additional 62 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its position in shares of Blackstone by 0.9% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 8,110 shares of the asset manager's stock valued at $1,398,000 after purchasing an additional 74 shares during the period. Ascent Group LLC raised its stake in shares of Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after purchasing an additional 74 shares in the last quarter. Global Assets Advisory LLC increased its holdings in Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after buying an additional 75 shares during the period. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of Blackstone by 0.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock worth $1,460,000 after acquiring an additional 78 shares during the period. Institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

BX opened at $137.45 on Monday. The company has a fifty day moving average price of $137.23 and a two-hundred day moving average price of $153.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $100.29 billion, a PE ratio of 41.40, a P/E/G ratio of 1.26 and a beta of 1.65. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

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 the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same period in the previous year, the company posted $0.98 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.71%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Analyst Ratings Changes

A number of brokerages have commented on BX. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $165.00 price target on shares of Blackstone in a research note on Thursday, April 24th. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. TD Cowen lowered their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $155.65.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The transaction 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 Blackstone 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 completion of the transaction, the insider now directly owns 475,336 shares in the company, 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 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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