Blackstone Inc. (NYSE:BX) Position Boosted by MGO One Seven LLC

MGO One Seven LLC boosted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 12.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,381 shares of the asset manager's stock after acquiring an additional 2,988 shares during the period. MGO One Seven LLC's holdings in Blackstone were worth $4,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Alta Advisers Ltd boosted its holdings in shares of Blackstone by 26.6% in the 4th quarter. Alta Advisers Ltd now owns 2,406 shares of the asset manager's stock valued at $415,000 after buying an additional 506 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Blackstone by 91.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 41,685 shares of the asset manager's stock valued at $7,187,000 after purchasing an additional 19,930 shares during the last quarter. Transce3nd LLC purchased a new stake in Blackstone in the 4th quarter valued at $53,000. MML Investors Services LLC raised its position in Blackstone by 3.4% in the 4th quarter. MML Investors Services LLC now owns 158,496 shares of the asset manager's stock valued at $27,328,000 after purchasing an additional 5,144 shares during the last quarter. Finally, Natixis raised its position in Blackstone by 111.5% during the 4th quarter. Natixis now owns 53,310 shares of the asset manager's stock worth $9,192,000 after buying an additional 28,103 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Down 0.5 %

BX traded down $0.67 during trading on Tuesday, hitting $132.92. The company's stock had a trading volume of 882,549 shares, compared to its average volume of 3,752,346. The firm's 50 day moving average price is $140.89 and its 200-day moving average price is $164.05. 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 stock has a market cap of $96.95 billion, a PE ratio of 36.60, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the company posted $0.98 earnings per share. On average, analysts expect 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 will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a $0.93 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.80%. Blackstone's payout ratio is currently 112.05%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BX. Wells Fargo & Company cut their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. TD Cowen cut their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup cut their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $154.82.

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.