Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Blackstone Inc. $BX

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,105 shares of the asset manager's stock after selling 14,483 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Blackstone were worth $46,258,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Redwood Financial Network Corp increased its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock valued at $537,000 after acquiring an additional 65 shares during the period. Obermeyer Wealth Partners increased its holdings in shares of Blackstone by 2.3% in the 3rd quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager's stock valued at $511,000 after acquiring an additional 66 shares during the period. Klingman & Associates LLC increased its holdings in shares of Blackstone by 0.4% in the 3rd quarter. Klingman & Associates LLC now owns 15,116 shares of the asset manager's stock valued at $2,583,000 after acquiring an additional 67 shares during the period. Lazari Capital Management Inc. increased its holdings in shares of Blackstone by 4.5% in the 3rd quarter. Lazari Capital Management Inc. now owns 1,578 shares of the asset manager's stock valued at $270,000 after acquiring an additional 68 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock valued at $1,194,000 after acquiring an additional 69 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares in the company, valued at $90,670.32. This trade represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company's stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares of the company's stock, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BX shares. Evercore reaffirmed an "outperform" rating and issued a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Blackstone in a research report on Monday, April 20th. Piper Sandler lifted their price objective on shares of Blackstone from $122.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday. The Goldman Sachs Group lowered their price objective on shares of Blackstone from $118.00 to $116.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Finally, Morgan Stanley lowered their price objective on shares of Blackstone from $215.00 to $184.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $150.95.

Blackstone Price Performance

Blackstone stock opened at $121.48 on Wednesday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The business has a fifty day moving average of $116.22 and a two-hundred day moving average of $137.48. The company has a market cap of $90.16 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.74.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $1.11 earnings per share. Blackstone's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts predict that Blackstone Inc. will post 5.92 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone's dividend payout ratio (DPR) is 118.67%.

Blackstone Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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