Crewe Advisors LLC Grows Holdings in Blackstone Inc. (NYSE:BX)

Crewe Advisors LLC raised its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 54.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,692 shares of the asset manager's stock after buying an additional 1,999 shares during the period. Crewe Advisors LLC's holdings in Blackstone were worth $796,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BX. Norges Bank acquired a new stake in Blackstone during the 4th quarter worth $974,448,000. Raymond James Financial Inc. acquired a new stake in Blackstone during the 4th quarter worth $316,257,000. Capital Research Global Investors acquired a new stake in Blackstone during the 4th quarter worth $239,837,000. GAMMA Investing LLC raised its stake in Blackstone by 14,608.6% during 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 in the last quarter. Finally, Vanguard Group Inc. raised its stake in Blackstone by 1.3% during 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 in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were bought 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 approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 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. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. TD Cowen dropped their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Bank of America dropped 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. JMP Securities restated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Finally, Piper Sandler dropped their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $155.65.

Blackstone Price Performance

BX traded up $5.70 on Tuesday, hitting $144.02. 3,950,830 shares of the company were exchanged, compared to its average volume of 3,811,398. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The business's fifty day moving average is $137.60 and its 200 day moving average is $153.23. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market capitalization of $105.09 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last issued 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 return on equity of 19.84% and a net margin of 19.83%. The company 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 posted $0.98 earnings per share. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

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.