Gerber Kawasaki Wealth & Investment Management Buys 2,538 Shares of Blackstone Inc. (NYSE:BX)

Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,415 shares of the asset manager's stock after buying an additional 2,538 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Blackstone were worth $12,831,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BX. Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock valued at $2,790,000 after buying an additional 59 shares during the period. McIlrath & Eck LLC lifted its position in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after acquiring an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after acquiring an additional 62 shares in the last quarter. McAdam LLC lifted its position in Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after acquiring an additional 63 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock valued at $1,903,000 after acquiring an additional 63 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 2.2 %

Shares of BX stock traded up $2.87 during trading hours on Thursday, reaching $134.58. The company's stock had a trading volume of 2,355,551 shares, compared to its average volume of 4,719,253. The stock has a market capitalization of $98.17 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The firm's fifty day simple moving average is $139.76 and its 200 day simple moving average is $163.62. 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 released its quarterly 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). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Bank of America cut their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Finally, Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of "Hold" and a consensus price target of $154.82.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

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.