Pittenger & Anderson Inc. Has $2.45 Million Holdings in Blackstone Inc. (NYSE:BX)

Pittenger & Anderson Inc. lowered its stake in Blackstone Inc. (NYSE:BX - Free Report) by 52.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,496 shares of the asset manager's stock after selling 19,119 shares during the period. Pittenger & Anderson Inc.'s holdings in Blackstone were worth $2,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. Putney Financial Group LLC bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. von Borstel & Associates Inc. bought a new stake in Blackstone during the 1st quarter worth approximately $28,000. Finally, Garde Capital Inc. bought a new stake in Blackstone during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Down 1.1%

Blackstone stock opened at $162.21 on Monday. Blackstone Inc. has a 52 week low of $115.66 and a 52 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. The stock has a market capitalization of $118.36 billion, a P/E ratio of 48.86, a PEG ratio of 1.47 and a beta of 1.65. The stock has a 50-day simple moving average of $143.68 and a 200 day simple moving average of $150.62.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for 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 in the previous year, the business posted $0.98 EPS. Analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.29%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat purchased 237 shares of the company's stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider owned 1,666,667 shares of the company's stock, valued at $25,000,005. This represents a 24,898.76% 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

BX has been the topic of a number of recent research reports. Citigroup increased their price objective on Blackstone from $137.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday. Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research report on Thursday. JMP Securities reiterated a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Bank of America cut their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of "Hold" and an average price target of $161.29.

About Blackstone

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.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX - Free Report).

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.