Blackstone Inc. (NYSE:BX) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Blackstone Inc. (NYSE:BX - Free Report) by 19.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,109,020 shares of the asset manager's stock after acquiring an additional 678,111 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.57% of Blackstone worth $708,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock worth $1,970,000 after purchasing an additional 62 shares in the last quarter. McAdam LLC grew its stake in shares of Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after purchasing an additional 63 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after purchasing an additional 63 shares in the last quarter. Finally, Catalina Capital Group LLC grew its stake in shares of Blackstone by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager's stock worth $365,000 after purchasing an additional 65 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. UBS Group reduced their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reduced 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 report on Tuesday, April 22nd. Finally, Piper Sandler reduced their price target 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 research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average target price of $154.82.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ruth Porat bought 237 shares of the stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the acquisition, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Down 0.9%

NYSE BX opened at $144.10 on Wednesday. The stock has a market capitalization of $105.14 billion, a P/E ratio of 39.70, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The firm has a 50-day moving average price of $137.50 and a 200 day moving average price of $161.16. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly 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 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 in the previous year, the business posted $0.98 EPS. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX - Free Report).

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.