Blackstone Inc. (NYSE:BX) Shares Acquired by Gallagher Capital Advisors LLC

Gallagher Capital Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 83.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,971 shares of the asset manager's stock after purchasing an additional 4,990 shares during the period. Blackstone comprises approximately 1.2% of Gallagher Capital Advisors LLC's holdings, making the stock its 25th largest holding. Gallagher Capital Advisors LLC's holdings in Blackstone were worth $1,534,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after acquiring an additional 62 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Blackstone by 0.9% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 8,110 shares of the asset manager's stock valued at $1,398,000 after acquiring an additional 74 shares in the last quarter. Ascent Group LLC grew its stake in Blackstone by 0.9% during the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after acquiring an additional 74 shares in the last quarter. Global Assets Advisory LLC grew its stake in shares of Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after buying an additional 75 shares during the period. Finally, Aptus Capital Advisors LLC grew its stake in shares of Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after buying an additional 78 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 4.1%

Blackstone stock traded up $5.70 during mid-day trading on Tuesday, reaching $144.02. 3,950,830 shares of the company's stock were exchanged, compared to its average volume of 3,811,402. The company has a market cap of $105.09 billion, a P/E ratio of 43.38, a P/E/G ratio of 1.27 and a beta of 1.65. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $137.60 and a 200-day moving average of $153.23.

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

Blackstone Cuts Dividend

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

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat bought 237 shares of the business's stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated 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 sale, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the subject of several analyst reports. Cowen reissued a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Citigroup decreased their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. 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, Blackstone has an average rating of "Hold" and an average price target of $155.65.

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.