Integrated Advisors Network LLC Raises Stake in Blackstone Inc. (NYSE:BX)

Integrated Advisors Network LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 116.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,839 shares of the asset manager's stock after buying an additional 119,677 shares during the quarter. Blackstone comprises 1.8% of Integrated Advisors Network LLC's investment portfolio, making the stock its 7th biggest position. Integrated Advisors Network LLC's holdings in Blackstone were worth $38,422,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BX. Wesbanco Bank Inc. lifted its stake in shares of Blackstone by 3.2% during the 4th quarter. Wesbanco Bank Inc. now owns 3,256 shares of the asset manager's stock valued at $561,000 after buying an additional 100 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Blackstone by 25.1% in the 4th quarter. Avior Wealth Management LLC now owns 2,822 shares of the asset manager's stock worth $487,000 after purchasing an additional 566 shares in the last quarter. Brighton Jones LLC lifted its stake in 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 in the last quarter. Sound Income Strategies LLC lifted its stake in Blackstone by 23.7% in the 4th quarter. Sound Income Strategies LLC now owns 944 shares of the asset manager's stock worth $163,000 after purchasing an additional 181 shares in the last quarter. Finally, CX Institutional lifted its stake in Blackstone by 29.4% in the 4th quarter. CX Institutional now owns 3,446 shares of the asset manager's stock worth $594,000 after purchasing an additional 783 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 25,000 shares of the business's 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 directly owns 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. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 0.2%

Blackstone stock traded up $0.33 during trading hours on Thursday, reaching $138.74. The stock had a trading volume of 2,208,652 shares, compared to its average volume of 3,783,808. The stock has a market cap of $101.23 billion, a PE ratio of 38.22, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a fifty day simple moving average of $136.36 and a 200-day simple moving average of $159.75.

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 analysts' consensus estimates 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 return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business earned $0.98 EPS. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group lowered their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. TD Cowen decreased their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen lowered shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Piper Sandler decreased their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus target price of $155.65.

Blackstone Company 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.