Blackstone Inc. (NYSE:BX) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in Blackstone Inc. (NYSE:BX - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,631,780 shares of the asset manager's stock after buying an additional 19,885 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Blackstone worth $228,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone in the fourth quarter worth $34,000. Putney Financial Group LLC acquired a new stake in Blackstone in the fourth quarter valued at $34,000. Garde Capital Inc. acquired a new position in Blackstone during the 1st quarter worth $36,000. Finally, WFA Asset Management Corp acquired a new stake in shares of Blackstone in the 1st quarter valued at about $38,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares in the company, valued at $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 Analyst Weigh In

BX has been the subject of several research analyst reports. UBS Group lowered their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Bank of America decreased their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Citigroup reduced their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler lowered their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $155.65.

Blackstone Stock Performance

BX stock opened at $151.29 on Friday. The company has a market capitalization of $110.39 billion, a P/E ratio of 45.57, a PEG ratio of 1.39 and a beta of 1.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The company has a 50-day simple moving average of $138.66 and a 200 day simple moving average of $152.36. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for 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 quarter in the prior year, the business earned $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.