New York State Teachers Retirement System trimmed its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 562,035 shares of the asset manager's stock after selling 30,538 shares during the period. New York State Teachers Retirement System owned about 0.08% of Blackstone worth $78,561,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Blackstone by 1.3% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in Blackstone by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after buying an additional 444,887 shares in the last quarter. Northern Trust Corp lifted its position in Blackstone by 10.8% during the fourth quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after buying an additional 681,512 shares in the last quarter. Invesco Ltd. lifted its position in shares of Blackstone by 6.6% during the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after purchasing an additional 371,677 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Blackstone during the fourth quarter worth $974,448,000. 70.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. 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 research report on Tuesday, April 22nd. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Finally, Piper Sandler cut their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a 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 stock. According to data from MarketBeat, Blackstone presently has an average rating of "Hold" and a consensus target price of $155.65.
Read Our Latest Stock Report on Blackstone
Insider Activity
In other news, 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 price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 25,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Blackstone Stock Up 2.1%
BX stock opened at $151.29 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a fifty day moving average price of $138.66 and a two-hundred day moving average price of $152.10. The firm has a market cap of $110.39 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 1.39 and a beta of 1.65.
Blackstone (NYSE:BX - Get Free Report) last released its 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). 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 quarter in the previous year, the firm earned $0.98 EPS. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.
About Blackstone
(
Free Report)
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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