Blackstone Inc. (NYSE:BX) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management increased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,063 shares of the asset manager's stock after acquiring an additional 6,349 shares during the period. Dakota Wealth Management's holdings in Blackstone were worth $6,019,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Blackstone during the 4th quarter valued at approximately $974,448,000. Capital Research Global Investors purchased a new position in shares of Blackstone during the 4th quarter worth approximately $239,837,000. GAMMA Investing LLC grew its stake in Blackstone by 14,608.6% in the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock worth $184,873,000 after acquiring an additional 1,313,606 shares during the period. Vanguard Group Inc. grew its stake 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 acquiring an additional 889,286 shares during the period. Finally, FMR LLC grew its stake 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 acquiring an additional 835,170 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 2.0%

NYSE BX traded down $3.23 on Tuesday, hitting $160.13. 3,967,719 shares of the company were exchanged, compared to its average volume of 3,882,335. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $116.84 billion, a PE ratio of 48.23, a PEG ratio of 1.47 and a beta of 1.65. The stock has a fifty day moving average of $144.23 and a 200-day moving average of $150.55. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter last year, the business posted $0.98 EPS. As a group, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is 112.05%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director directly owned 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,461,750.00. Following the completion of the transaction, the insider directly owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BX. Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research note on Thursday, July 10th. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. Bank of America reduced their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Evercore ISI raised their price objective on Blackstone from $152.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Citigroup increased their target price on shares of Blackstone from $137.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and a consensus target price of $162.18.

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.