GAMMA Investing LLC Has $184.87 Million Stock Position in Blackstone Inc. (NYSE:BX)

GAMMA Investing LLC raised its stake in Blackstone Inc. (NYSE:BX - Free Report) by 14,608.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,322,598 shares of the asset manager's stock after buying an additional 1,313,606 shares during the quarter. GAMMA Investing LLC owned 0.18% of Blackstone worth $184,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BX. Norges Bank bought a new position in shares of Blackstone in the 4th quarter valued at about $974,448,000. Raymond James Financial Inc. bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $316,257,000. Capital Research Global Investors acquired a new stake in shares of Blackstone during the 4th quarter worth $239,837,000. Vanguard Group Inc. increased its holdings in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after buying an additional 889,286 shares during the period. Finally, FMR LLC raised its position in Blackstone by 38.8% during the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock valued at $515,577,000 after purchasing an additional 835,170 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 now directly owns 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 Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BX shares. UBS Group dropped their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Citigroup dropped their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of "Hold" and an average price target of $155.65.

Blackstone Stock Performance

Blackstone stock traded up $0.30 during midday trading on Thursday, hitting $139.06. 850,054 shares of the company's stock were exchanged, compared to its average volume of 3,781,405. The firm's 50 day simple moving average is $135.57 and its 200 day simple moving average is $158.27. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market cap of $101.46 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

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 for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the business earned $0.98 EPS. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. Blackstone's dividend payout ratio (DPR) is 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.