Cohen Investment Advisors LLC Buys 373,100 Shares of Blackstone Inc. (NYSE:BX)

Cohen Investment Advisors LLC lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1,347.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,783 shares of the asset manager's stock after purchasing an additional 373,100 shares during the quarter. Blackstone accounts for 1.5% of Cohen Investment Advisors LLC's portfolio, making the stock its 18th largest position. Cohen Investment Advisors LLC owned approximately 0.05% of Blackstone worth $56,021,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in Blackstone in the 4th quarter valued at $34,000. Putney Financial Group LLC bought a new stake in Blackstone in the 4th quarter valued at $34,000. Garde Capital Inc. bought a new stake in Blackstone in the 1st quarter valued at $36,000. Finally, WFA Asset Management Corp bought a new stake in Blackstone in the 1st quarter valued at $38,000. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a research report on Thursday, April 24th. 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 research report on Tuesday, April 8th. UBS Group cut their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America lowered their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $155.65.

Blackstone Stock Performance

BX traded up $3.11 on Friday, reaching $151.29. The company had a trading volume of 7,633,237 shares, compared to its average volume of 3,842,026. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market cap of $110.39 billion, a P/E ratio of 45.57, a P/E/G ratio of 1.39 and a beta of 1.65. The company's fifty day moving average is $138.66 and its 200 day moving average is $152.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

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). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 25,000 shares of the 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 completion of the transaction, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a legal 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 dated Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of 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 disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

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.