Dupont Capital Management Corp Sells 13,397 Shares of Blackstone Inc. (NYSE:BX)

Dupont Capital Management Corp decreased its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,775 shares of the asset manager's stock after selling 13,397 shares during the period. Dupont Capital Management Corp's holdings in Blackstone were worth $8,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Norges Bank bought a new stake in shares of Blackstone during the 4th quarter valued at about $974,448,000. Raymond James Financial Inc. bought a new position in Blackstone in the fourth quarter worth approximately $316,257,000. Capital Research Global Investors bought a new position in Blackstone in the fourth quarter worth approximately $239,837,000. GAMMA Investing LLC boosted its holdings in Blackstone by 14,608.6% in the first 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. boosted its holdings in Blackstone by 1.3% in the fourth 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. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Bank of America lowered their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Barclays increased their price objective on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $155.65.

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of Blackstone 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. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Blackstone Stock Performance

NYSE:BX opened at $137.45 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. The business has a fifty day simple moving average of $137.23 and a two-hundred day simple moving average of $154.08. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a market capitalization of $100.29 billion, a P/E ratio of 41.40, a P/E/G ratio of 1.26 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last released 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 firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the business earned $0.98 earnings per share. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share 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. This represents a $3.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is currently 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.

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