Blackstone Inc. (NYSE:BX) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC boosted its position in Blackstone Inc. (NYSE:BX - Free Report) by 119.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,659 shares of the asset manager's stock after purchasing an additional 4,714 shares during the period. Fidelis Capital Partners LLC's holdings in Blackstone were worth $1,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Blackstone by 6.4% during the 4th quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock valued at $7,180,000 after acquiring an additional 2,494 shares during the period. AGF Management Ltd. acquired a new stake in shares of Blackstone during the 4th quarter valued at approximately $740,000. Great Lakes Advisors LLC lifted its position in shares of Blackstone by 49.2% during the 4th quarter. Great Lakes Advisors LLC now owns 5,321 shares of the asset manager's stock valued at $917,000 after acquiring an additional 1,754 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in shares of Blackstone by 9.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 39,106 shares of the asset manager's stock valued at $6,743,000 after acquiring an additional 3,401 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 475,336 shares of the company's stock, valued at approximately $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 accessible through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider owned 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

BX has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a research note on Thursday. Finally, TD Cowen lowered their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $161.29.

Blackstone Price Performance

BX opened at $162.21 on Friday. The company has a 50-day moving average of $143.68 and a 200-day moving average of $150.98. The company has a market capitalization of $118.36 billion, a P/E ratio of 48.86, a PEG ratio of 1.50 and a beta of 1.65. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $0.98 EPS. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

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.

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.