Mattson Financial Services LLC Sells 2,589 Shares of Blackstone Inc. (NYSE:BX)

Mattson Financial Services LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,853 shares of the asset manager's stock after selling 2,589 shares during the quarter. Mattson Financial Services LLC's holdings in Blackstone were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 889,286 shares during the period. Geode Capital Management LLC grew its position in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after acquiring an additional 444,887 shares in the last quarter. Northern Trust Corp grew its position in shares of Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock worth $1,209,707,000 after acquiring an additional 681,512 shares in the last quarter. Invesco Ltd. grew its position in shares of Blackstone by 6.6% in the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after acquiring an additional 371,677 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Blackstone in the 4th quarter worth approximately $974,448,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. Barclays raised their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Citigroup cut their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price target on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $155.65.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat bought 237 shares of the stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Price Performance

Shares of BX traded down $0.43 during midday trading on Friday, reaching $138.45. The stock had a trading volume of 6,190,012 shares, compared to its average volume of 3,794,132. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm's 50 day moving average price is $135.83 and its 200-day moving average price is $159.15. The company has a market capitalization of $101.02 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (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 return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the firm earned $0.98 earnings per share. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 issued 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 2.69%. Blackstone's payout ratio 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.