Perfromance Wealth Partners LLC Buys 25,221 Shares of Blackstone Inc. (NYSE:BX)

Perfromance Wealth Partners LLC lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 84.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,096 shares of the asset manager's stock after buying an additional 25,221 shares during the quarter. Blackstone makes up about 0.3% of Perfromance Wealth Partners LLC's holdings, making the stock its 23rd biggest holding. Perfromance Wealth Partners LLC's holdings in Blackstone were worth $7,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in Blackstone during the fourth quarter valued at approximately $974,448,000. Raymond James Financial Inc. purchased a new position in Blackstone in the fourth quarter worth about $316,257,000. Capital Research Global Investors bought a new stake in shares of Blackstone during the 4th quarter valued at about $239,837,000. GAMMA Investing LLC lifted its stake in shares of Blackstone by 14,608.6% in the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock worth $184,873,000 after purchasing an additional 1,313,606 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after buying an additional 889,286 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Performance

NYSE BX opened at $137.45 on Friday. The company has a market cap of $100.29 billion, a P/E ratio of 41.40, a P/E/G ratio of 1.26 and a beta of 1.65. The business's 50 day moving average price is $137.23 and its 200-day moving average price is $154.08. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last released its 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). 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 19.84% and a net margin of 19.83%. During the same quarter last year, the business posted $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current 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 paid 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 dividend payout ratio is currently 112.05%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 237 shares of the company's stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now directly 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 position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BX. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler lowered their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Morgan Stanley cut their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, UBS Group decreased 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. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $155.65.

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.