SurgoCap Partners LP Purchases 161,284 Shares of Blackstone Inc. (NYSE:BX)

SurgoCap Partners LP increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 20.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,828 shares of the asset manager's stock after acquiring an additional 161,284 shares during the quarter. Blackstone comprises approximately 8.5% of SurgoCap Partners LP's portfolio, making the stock its 7th largest holding. SurgoCap Partners LP owned about 0.13% of Blackstone worth $165,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Shay Capital LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $207,000. SGL Investment Advisors Inc. purchased a new stake in shares of Blackstone in the fourth quarter valued at about $233,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $315,000. Rafferty Asset Management LLC raised its position in shares of Blackstone by 3.9% in the fourth quarter. Rafferty Asset Management LLC now owns 256,010 shares of the asset manager's stock valued at $44,141,000 after buying an additional 9,699 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Blackstone during the fourth quarter worth approximately $833,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction 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 owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth Porat bought 237 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, for a total transaction of $32,310.21. Following the acquisition, the director now owns 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

BX has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Citigroup reduced their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. TD Cowen dropped their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and a consensus target price of $154.82.

Blackstone Trading Down 4.6%

Shares of BX traded down $6.67 during midday trading on Wednesday, hitting $137.53. The stock had a trading volume of 4,586,627 shares, compared to its average volume of 3,784,949. The business has a 50-day simple moving average of $137.50 and a two-hundred day simple moving average of $161.16. 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 $100.35 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is presently 112.05%.

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.