Welch Capital Partners LLC NY Has $40.28 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Welch Capital Partners LLC NY decreased its position in Blackstone Inc. (NYSE:BX - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,628 shares of the asset manager's stock after selling 42,474 shares during the quarter. Blackstone accounts for approximately 8.7% of Welch Capital Partners LLC NY's holdings, making the stock its 3rd largest position. Welch Capital Partners LLC NY's holdings in Blackstone were worth $40,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Hager Investment Management Services LLC bought a new position in Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in Blackstone in the fourth quarter worth about $34,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone in the 4th quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the 4th quarter worth about $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's 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 acquisition, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 1,660,538 shares of company stock worth $24,981,930 over the last three months. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. UBS Group dropped their price target on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered 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. Finally, Wells Fargo & Company reduced their target price on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and an average target price of $154.82.

Blackstone Stock Down 0.0%

BX stock opened at $146.69 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a 50-day moving average of $137.25 and a two-hundred day moving average of $161.43. The stock has a market capitalization of $107.03 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth 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 released 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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the business earned $0.98 EPS. As a group, equities research analysts anticipate 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. Stockholders 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 dividend yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone's dividend 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.

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