1,829 Shares in Blackstone Inc. (NYSE:BX) Acquired by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,829 shares of the asset manager's stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new position in Blackstone in the fourth quarter valued at $63,109,000. Wealthcare Capital Partners LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $2,102,000. Highland Capital Management LLC raised its stake in Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock worth $3,845,000 after purchasing an additional 15,205 shares during the period. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after buying an additional 889,286 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Blackstone by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 716,319 shares of the asset manager's stock worth $123,508,000 after buying an additional 5,951 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Performance

NYSE BX traded down $0.78 during trading hours on Thursday, hitting $136.71. The company had a trading volume of 3,856,272 shares, compared to its average volume of 3,785,236. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a market cap of $99.75 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $137.43 and a 200-day simple moving average of $160.99.

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

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.72%. Blackstone's payout ratio is 112.05%.

Insider Activity

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on BX shares. Citizens Jmp upgraded 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. Morgan Stanley decreased their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Piper Sandler reduced their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of "Hold" and a consensus target price of $154.82.

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.