Blackstone Inc. (NYSE:BX) Stock Position Boosted by Conway Capital Management Inc.

Conway Capital Management Inc. grew its position in Blackstone Inc. (NYSE:BX - Free Report) by 107.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,930 shares of the asset manager's stock after purchasing an additional 17,542 shares during the period. Blackstone makes up 2.4% of Conway Capital Management Inc.'s holdings, making the stock its 10th largest position. Conway Capital Management Inc.'s holdings in Blackstone were worth $4,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BX. Norges Bank acquired a new stake in Blackstone in the 4th quarter valued at about $974,448,000. Raymond James Financial Inc. acquired a new position in Blackstone during the fourth quarter worth $316,257,000. Capital Research Global Investors acquired a new stake in shares of Blackstone in the 4th quarter worth $239,837,000. GAMMA Investing LLC grew its holdings in shares of Blackstone by 14,608.6% in the first quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock valued at $184,873,000 after purchasing an additional 1,313,606 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BX. Barclays upped their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Wells Fargo & Company lifted their price objective on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Finally, Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Ten investment 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 presently has an average rating of "Hold" and a consensus target price of $155.65.

Insider Buying and Selling

In other news, 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of BX stock traded up $1.65 during trading hours on Monday, reaching $138.06. 2,584,035 shares of the company's stock were exchanged, compared to its average volume of 3,801,812. The company's 50 day moving average is $136.51 and its two-hundred day moving average is $155.39. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a market cap of $100.73 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone's 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.