MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 24,033 Shares of Blackstone Inc. (NYSE:BX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,660 shares of the asset manager's stock after selling 24,033 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Blackstone were worth $12,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $974,448,000. Raymond James Financial Inc. acquired a new stake in Blackstone in the fourth quarter valued at approximately $316,257,000. Capital Research Global Investors acquired a new stake in Blackstone in the fourth quarter valued at approximately $239,837,000. Vanguard Group Inc. raised 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 valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. Finally, FMR LLC raised its position in shares of Blackstone by 38.8% in the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock valued at $515,577,000 after purchasing an additional 835,170 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Price Performance

Shares of NYSE:BX traded down $1.35 on Tuesday, hitting $144.10. The stock had a trading volume of 4,566,010 shares, compared to its average volume of 3,775,326. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. 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 firm's 50 day moving average price is $137.35 and its 200-day moving average price is $161.28. The company has a market capitalization of $105.14 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the company earned $0.98 EPS. On average, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.58%. Blackstone's dividend payout ratio (DPR) is 112.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BX. Bank of America dropped their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Barclays boosted their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price 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. 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. Finally, Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $154.82.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 237 shares of the company's stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now owns 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company'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 acquisition, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

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.