Blackstone Inc. (NYSE:BX) Shares Bought by Man Group plc

Man Group plc grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 222.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,847 shares of the asset manager's stock after purchasing an additional 28,850 shares during the quarter. Man Group plc's holdings in Blackstone were worth $7,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Norges Bank purchased a new position in Blackstone in the fourth quarter worth approximately $974,448,000. Raymond James Financial Inc. purchased a new position in Blackstone in the fourth quarter worth approximately $316,257,000. Capital Research Global Investors purchased a new position in Blackstone in the fourth quarter worth approximately $239,837,000. Vanguard Group Inc. lifted its stake in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. Finally, FMR LLC lifted its stake in Blackstone by 38.8% in the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after acquiring an additional 835,170 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Piper Sandler reduced 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. Wells Fargo & Company reduced their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America cut their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Ten 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.com, Blackstone currently has an average rating of "Hold" and a consensus price target of $154.82.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.9%

Shares of Blackstone stock opened at $145.38 on Tuesday. The company has a market cap of $106.08 billion, a P/E ratio of 40.05, a PEG ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The firm has a fifty day moving average of $137.35 and a two-hundred day moving average of $161.28.

Blackstone (NYSE:BX - Get Free Report) last announced 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 firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the company posted $0.98 EPS. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.56%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

About Blackstone

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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