Waverly Advisors LLC Has $4.78 Million Holdings in Blackstone Inc. (NYSE:BX)

Waverly Advisors LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,708 shares of the asset manager's stock after purchasing an additional 5,204 shares during the period. Waverly Advisors LLC's holdings in Blackstone were worth $4,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Geode Capital Management LLC grew its position in Blackstone by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after purchasing an additional 444,887 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Blackstone by 10.8% in the fourth quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after purchasing an additional 681,512 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Blackstone by 6.6% during the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after buying an additional 371,677 shares in the last quarter. Finally, Norges Bank purchased a new stake in Blackstone in the 4th quarter worth about $974,448,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased 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 of the company's stock, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Barclays lifted their target price on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Piper Sandler cut their price objective on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley dropped their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Cowen restated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $155.65.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.70 during midday trading on Monday, hitting $136.23. The company had a trading volume of 2,608,968 shares, compared to its average volume of 3,794,288. The stock has a market cap of $99.40 billion, a PE ratio of 37.53, a P/E/G ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business's 50 day simple moving average is $137.02 and its two-hundred day simple moving average is $160.33. 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 released 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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. 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.