Blackstone Inc. (NYSE:BX) Stock Holdings Increased by Diversify Wealth Management LLC

Diversify Wealth Management LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,797 shares of the asset manager's stock after purchasing an additional 6,452 shares during the quarter. Diversify Wealth Management LLC's holdings in Blackstone were worth $3,845,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BX. Brighton Jones LLC raised its holdings in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Blackstone by 6.4% during the 4th quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock valued at $7,180,000 after buying an additional 2,494 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Blackstone by 39.4% during the 4th quarter. King Luther Capital Management Corp now owns 14,103 shares of the asset manager's stock valued at $2,432,000 after buying an additional 3,985 shares during the period. AGF Management Ltd. purchased a new stake in shares of Blackstone during the 4th quarter valued at about $740,000. Finally, Summit X LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $270,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of BX traded up $1.49 during mid-day trading on Monday, hitting $163.49. The stock had a trading volume of 2,521,058 shares, compared to its average volume of 3,884,378. The company has a market cap of $119.29 billion, a PE ratio of 49.25, a PEG ratio of 1.47 and a beta of 1.65. The company's fifty day simple moving average is $143.68 and its two-hundred day simple moving average is $150.62. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

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

Blackstone Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods dropped their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. JMP Securities raised their price objective on Blackstone from $165.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday. Finally, Wells Fargo & Company raised their price objective on Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $162.18.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 237 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director directly owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider directly owned 475,336 shares in the company, 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. Company insiders own 1.00% of the company's stock.

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.