Rhumbline Advisers Increases Stake in Blackstone Inc. (NYSE:BX)

Rhumbline Advisers raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,325,499 shares of the asset manager's stock after acquiring an additional 28,502 shares during the period. Rhumbline Advisers owned approximately 0.18% of Blackstone worth $185,278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Aletheian Wealth Advisors LLC acquired a new stake in Blackstone in the first quarter valued at approximately $287,000. Fifth Third Wealth Advisors LLC raised its holdings in shares of Blackstone by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,459 shares of the asset manager's stock worth $1,182,000 after buying an additional 313 shares during the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Blackstone by 13.7% in the first quarter. Cerro Pacific Wealth Advisors LLC now owns 1,566 shares of the asset manager's stock worth $219,000 after buying an additional 189 shares during the last quarter. Avondale Wealth Management raised its holdings in shares of Blackstone by 20.0% in the first quarter. Avondale Wealth Management now owns 2,100 shares of the asset manager's stock worth $294,000 after buying an additional 350 shares during the last quarter. Finally, BTC Capital Management Inc. raised its holdings in shares of Blackstone by 9.1% in the first quarter. BTC Capital Management Inc. now owns 1,505 shares of the asset manager's stock worth $210,000 after buying an additional 125 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on BX. Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. TD Cowen reduced their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays raised their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Morgan Stanley reduced their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company lifted their target price on shares of Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $155.65.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Porat purchased 237 shares of Blackstone 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 purchase, the director now directly owns 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

BX traded up $0.44 on Thursday, reaching $139.20. 1,097,383 shares of the company's stock were exchanged, compared to its average volume of 3,782,209. The stock has a market cap of $101.57 billion, a PE ratio of 38.35, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock's fifty day moving average price is $135.57 and its 200-day moving average price is $158.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.67%. Blackstone's payout ratio is 112.05%.

Blackstone Company 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.