Insigneo Advisory Services LLC Increases Stock Position in Blackstone Inc. (NYSE:BX)

Insigneo Advisory Services LLC grew its stake in Blackstone Inc. (NYSE:BX - Free Report) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,463 shares of the asset manager's stock after purchasing an additional 2,745 shares during the period. Blackstone makes up about 0.7% of Insigneo Advisory Services LLC's holdings, making the stock its 21st largest holding. Insigneo Advisory Services LLC's holdings in Blackstone were worth $6,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Operose Advisors LLC boosted its position in shares of Blackstone by 16.7% during the fourth quarter. Operose Advisors LLC now owns 4,915 shares of the asset manager's stock worth $847,000 after buying an additional 702 shares during the period. Bridgewater Associates LP acquired a new position in shares of Blackstone during the fourth quarter worth $795,000. Guggenheim Capital LLC raised its position in shares of Blackstone by 5.5% during the 4th quarter. Guggenheim Capital LLC now owns 189,913 shares of the asset manager's stock worth $32,745,000 after acquiring an additional 9,872 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $2,150,000. Finally, Broyhill Asset Management acquired a new position in Blackstone during the fourth quarter worth approximately $915,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Blackstone Trading Down 7.9 %

NYSE BX traded down $10.30 during mid-day trading on Monday, reaching $120.09. 2,191,001 shares of the stock were exchanged, compared to its average volume of 3,704,906. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business's fifty day simple moving average is $145.13 and its 200 day simple moving average is $164.95. 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 market capitalization of $87.60 billion, a PE ratio of 33.08, a PEG ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS 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 business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.10%. Blackstone's payout ratio is 158.68%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. Barclays increased their price objective on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price target for the company in a report on Monday, March 17th. JMP Securities upgraded shares of Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com lowered Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $156.11.

About Blackstone

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.