Crewe Advisors LLC Buys 1,999 Shares of Blackstone Inc. (NYSE:BX)

Crewe Advisors LLC grew its position in Blackstone Inc. (NYSE:BX - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,692 shares of the asset manager's stock after purchasing 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.

A number of other hedge funds also recently made changes to their positions in BX. Vanguard Group Inc. lifted its stake in shares of 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. Geode Capital Management LLC lifted its position in Blackstone by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after purchasing an additional 444,887 shares during the period. Northern Trust Corp increased its position in shares of Blackstone by 10.8% during the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after purchasing an additional 681,512 shares during the period. Invesco Ltd. lifted its holdings in shares of Blackstone by 6.6% in the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after buying an additional 371,677 shares during the period. Finally, Norges Bank acquired a new position in Blackstone during the fourth quarter worth about $974,448,000. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BX shares. Cowen restated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Wells Fargo & Company lifted their price target on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Morgan Stanley decreased their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price objective on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $155.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 237 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director now owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The acquisition 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 Blackstone stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Up 3.2%

Shares of NYSE:BX traded up $4.58 during midday trading on Thursday, hitting $148.15. 4,383,693 shares of the stock were exchanged, compared to its average volume of 3,820,657. The business's fifty day simple moving average is $138.24 and its two-hundred day simple moving average is $152.90. 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 Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a market capitalization of $108.10 billion, a PE ratio of 44.62, a P/E/G ratio of 1.32 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same period in the previous year, the firm posted $0.98 EPS. As a group, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

Blackstone 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.