Twinbeech Capital LP Makes New Investment in Blackstone Inc. (NYSE:BX)

Twinbeech Capital LP purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 396,722 shares of the asset manager's stock, valued at approximately $68,403,000. Blackstone comprises about 1.2% of Twinbeech Capital LP's portfolio, making the stock its 11th biggest holding. Twinbeech Capital LP owned about 0.05% of Blackstone as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Blackstone by 6.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 18,769 shares of the asset manager's stock worth $3,236,000 after buying an additional 1,214 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Blackstone by 7.0% in the fourth quarter. Carnegie Investment Counsel now owns 1,536 shares of the asset manager's stock worth $265,000 after buying an additional 101 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Blackstone by 156.9% in the fourth quarter. Merit Financial Group LLC now owns 33,052 shares of the asset manager's stock worth $5,699,000 after buying an additional 20,188 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Blackstone by 4.1% in the fourth quarter. Brooklyn Investment Group now owns 1,840 shares of the asset manager's stock worth $317,000 after buying an additional 73 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in shares of Blackstone by 6.6% in the fourth quarter. Integrated Investment Consultants LLC now owns 1,617 shares of the asset manager's stock worth $279,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Cowen reaffirmed a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Citigroup lowered their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen reduced their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus target price of $154.82.

Blackstone Trading Down 0.6%

NYSE BX traded down $0.78 on Thursday, hitting $136.71. 3,856,272 shares of the stock were exchanged, compared to its average volume of 3,789,907. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a fifty day moving average price of $137.43 and a two-hundred day moving average price of $160.99. The firm has a market capitalization of $99.75 billion, a P/E ratio of 37.66, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

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

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 2.72%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Insider Activity

In related news, Director Ruth Porat purchased 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

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.