Bremer Bank National Association grew its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,717 shares of the asset manager's stock after purchasing an additional 2,591 shares during the quarter. Blackstone accounts for 1.1% of Bremer Bank National Association's investment portfolio, making the stock its 28th biggest position. Bremer Bank National Association's holdings in Blackstone were worth $6,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Brighton Jones LLC increased its position in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Blackstone by 67.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 29,224 shares of the asset manager's stock worth $5,039,000 after acquiring an additional 11,786 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Blackstone by 5.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,797 shares of the asset manager's stock worth $3,758,000 after acquiring an additional 1,048 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Blackstone by 9.0% during the fourth quarter. DAVENPORT & Co LLC now owns 52,784 shares of the asset manager's stock worth $9,101,000 after acquiring an additional 4,340 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Blackstone by 9.4% during the fourth quarter. Greenleaf Trust now owns 6,465 shares of the asset manager's stock worth $1,115,000 after acquiring an additional 554 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.
Blackstone Stock Performance
Shares of NYSE BX traded down $1.10 during midday trading on Thursday, hitting $137.66. 2,440,481 shares of the company's stock were exchanged, compared to its average volume of 3,787,446. 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 stock's 50 day moving average price is $135.57 and its 200-day moving average price is $158.27. The firm has a market cap of $100.44 billion, a P/E ratio of 37.92, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.
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 analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during 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 quarter last year, the company earned $0.98 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The company 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 of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.70%. Blackstone's dividend payout ratio (DPR) is 112.05%.
Insiders Place Their Bets
In other Blackstone news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Barclays boosted their price objective on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, UBS Group lowered their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $155.65.
Check Out Our Latest Research Report on BX
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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