Janney Montgomery Scott LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 628,421 shares of the asset manager's stock after purchasing an additional 7,523 shares during the period. Janney Montgomery Scott LLC owned 0.09% of Blackstone worth $87,841,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Mission Wealth Management LP raised its stake in shares of Blackstone by 12.7% in the first quarter. Mission Wealth Management LP now owns 8,382 shares of the asset manager's stock worth $1,172,000 after acquiring an additional 942 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in Blackstone by 14.9% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,698 shares of the asset manager's stock worth $237,000 after buying an additional 220 shares in the last quarter. Brown Miller Wealth Management LLC increased its stake in shares of Blackstone by 3.4% in the 1st quarter. Brown Miller Wealth Management LLC now owns 7,729 shares of the asset manager's stock valued at $1,080,000 after buying an additional 251 shares during the period. Cyndeo Wealth Partners LLC raised its position in shares of Blackstone by 1.2% during the first quarter. Cyndeo Wealth Partners LLC now owns 28,174 shares of the asset manager's stock worth $3,938,000 after acquiring an additional 342 shares during the last quarter. Finally, Conway Capital Management Inc. boosted its holdings in Blackstone by 107.0% in the first quarter. Conway Capital Management Inc. now owns 33,930 shares of the asset manager's stock valued at $4,743,000 after acquiring an additional 17,542 shares during the last quarter. 70.00% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
BX has been the topic of several recent research reports. TD Cowen reduced their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup lowered their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays boosted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, UBS Group reduced their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $155.65.
Read Our Latest Research Report on BX
Insider Transactions at Blackstone
In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased 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 in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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, for a total transaction of $32,310.21. Following the completion of the purchase, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.
Blackstone Stock Up 1.2%
Shares of NYSE BX traded up $1.65 during midday trading on Monday, reaching $138.06. The company's stock had a trading volume of 2,584,035 shares, compared to its average volume of 3,801,812. The stock has a 50 day simple moving average of $136.51 and a 200-day simple moving average of $155.39. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $100.73 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 1.07 and a beta of 1.65.
Blackstone (NYSE:BX - Get Free Report) last posted 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). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company posted $0.98 earnings per share. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.
Blackstone Company Profile
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Free Report)
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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