Means Investment CO. Inc. Has $2.31 Million Stock Position in Blackstone Inc. (NYSE:BX)

Means Investment CO. Inc. decreased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,517 shares of the asset manager's stock after selling 4,315 shares during the quarter. Means Investment CO. Inc.'s holdings in Blackstone were worth $2,309,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BX. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone in the 4th quarter worth approximately $34,000. Putney Financial Group LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. Finally, WFA Asset Management Corp acquired a new position in Blackstone in the first quarter valued at $38,000. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% 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, Director Ruth Porat purchased 237 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now owns 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. 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. Piper Sandler lowered their price objective 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. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen dropped their price objective 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. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of "Hold" and a consensus price target of $155.65.

Blackstone Stock Up 1.2%

Shares of NYSE:BX opened at $137.28 on Friday. The stock has a market cap of $100.16 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.26 and a beta of 1.65. The business's 50 day moving average is $137.03 and its 200 day moving average is $154.42. Blackstone Inc. has a 12-month low of $115.66 and a 12-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.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. 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 company earned $0.98 EPS. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.