Blackstone Inc. (NYSE:BX) Shares Bought by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 132.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,156 shares of the asset manager's stock after purchasing an additional 8,067 shares during the quarter. Blackstone makes up 1.0% of Uniting Wealth Partners LLC's holdings, making the stock its 16th largest position. Uniting Wealth Partners LLC's holdings in Blackstone were worth $1,979,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Cable Hill Partners LLC purchased a new position in shares of Blackstone in the fourth quarter valued at approximately $202,000. Linscomb Wealth Inc. lifted its position in shares of Blackstone by 4.0% in the fourth quarter. Linscomb Wealth Inc. now owns 7,111 shares of the asset manager's stock valued at $1,226,000 after acquiring an additional 271 shares in the last quarter. Fort Sheridan Advisors LLC lifted its position in Blackstone by 3.9% during the fourth quarter. Fort Sheridan Advisors LLC now owns 116,663 shares of the asset manager's stock worth $20,115,000 after buying an additional 4,335 shares in the last quarter. Finally, Bouchey Financial Group Ltd purchased a new position in Blackstone during the fourth quarter worth approximately $219,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity at Blackstone

In other news, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat acquired 237 shares of the business's stock in a transaction on 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 now directly owns 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BX shares. UBS Group reduced their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler reduced their price objective on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays lifted their target price on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Cowen restated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Bank of America reduced their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $155.65.

Blackstone Trading Up 2.1%

Shares of BX stock traded up $3.11 on Friday, hitting $151.29. The stock had a trading volume of 7,633,237 shares, compared to its average volume of 3,842,893. The company's 50 day moving average price is $138.66 and its 200-day moving average price is $152.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm has a market capitalization of $110.39 billion, a P/E ratio of 45.57, a P/E/G ratio of 1.36 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last released 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). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the previous year, the company posted $0.98 EPS. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio is currently 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.