Blackstone Inc. (NYSE:BX) Stock Position Decreased by WBI Investments LLC

WBI Investments LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 89.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,307 shares of the asset manager's stock after selling 19,393 shares during the period. WBI Investments LLC's holdings in Blackstone were worth $398,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Blackstone in the 4th quarter worth about $974,448,000. Raymond James Financial Inc. bought a new position in Blackstone in the 4th quarter worth about $316,257,000. Capital Research Global Investors bought a new position in Blackstone in the 4th quarter worth about $239,837,000. Vanguard Group Inc. grew its position in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Finally, FMR LLC grew its position in Blackstone by 38.8% in the 4th quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after purchasing an additional 835,170 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 0.9%

Shares of NYSE:BX opened at $145.38 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $106.08 billion, a PE ratio of 40.05, a price-to-earnings-growth 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 simple moving average of $137.35 and a 200 day simple moving average of $161.28.

Blackstone (NYSE:BX - Get Free Report) last released 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). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business 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. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.56%. Blackstone's payout ratio is 112.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. TD Cowen reduced their price target 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. JMP Securities reaffirmed a "market outperform" rating and issued a $165.00 price target on shares of Blackstone in a research note on Thursday, April 24th. Finally, Morgan Stanley reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $154.82.

Insiders Place Their Bets

In related news, insider John G. Finley sold 25,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ruth Porat purchased 237 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director now directly owns 37,067 shares in the company, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

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.

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