Pacific Point Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,325 shares of the asset manager's stock, valued at approximately $397,000.
A number of other hedge funds have also recently made changes to their positions in the business. Simon Quick Advisors LLC increased its holdings in shares of Blackstone by 7.0% in the fourth quarter. Simon Quick Advisors LLC now owns 5,345 shares of the asset manager's stock worth $922,000 after buying an additional 349 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Blackstone by 13.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 134,116 shares of the asset manager's stock worth $23,124,000 after buying an additional 15,755 shares during the period. Advisory Alpha LLC grew its holdings in Blackstone by 9.4% in the 4th quarter. Advisory Alpha LLC now owns 4,035 shares of the asset manager's stock worth $696,000 after acquiring an additional 346 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in 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 purchasing an additional 100 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its position in Blackstone by 7.4% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 13,768 shares of the asset manager's stock valued at $2,374,000 after acquiring an additional 943 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.
Blackstone Stock Down 0.1%
Shares of BX traded down $0.20 during midday trading on Wednesday, hitting $139.10. The company had a trading volume of 809,081 shares, compared to its average volume of 3,781,187. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm has a market capitalization of $101.49 billion, a P/E ratio of 38.31, a P/E/G ratio of 1.07 and a beta of 1.67. The company's 50-day simple moving average is $136.56 and its 200-day simple moving average is $159.90.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly 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 return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current 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 yield of 2.67%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.
Insider Transactions at Blackstone
In other news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was acquired 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 owns 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 cost of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Barclays raised their price target 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. JMP Securities restated a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $155.65.
Check Out Our Latest Research Report on BX
Blackstone Company Profile
(
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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