Blackstone Inc. (NYSE:BX) Stock Holdings Raised by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,253 shares of the asset manager's stock after purchasing an additional 13,131 shares during the quarter. NewEdge Advisors LLC's holdings in Blackstone were worth $14,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the period. Geode Capital Management LLC lifted its position in shares of Blackstone by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after purchasing an additional 444,887 shares during the last quarter. Invesco Ltd. increased its holdings in Blackstone by 6.6% in the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after buying an additional 371,677 shares during the last quarter. Norges Bank purchased a new stake in Blackstone during the 4th quarter worth about $974,448,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Blackstone by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager's stock worth $697,464,000 after acquiring an additional 113,732 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

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 owned by company insiders.

Blackstone Trading Up 3.2 %

NYSE:BX traded up $3.80 on Tuesday, reaching $124.02. The stock had a trading volume of 982,917 shares, compared to its average volume of 3,711,588. The company has a market cap of $90.46 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm's fifty day moving average is $144.31 and its two-hundred day moving average is $164.73.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio is presently 158.68%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JMP Securities upgraded Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Piper Sandler lowered their price objective 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. Morgan Stanley lowered their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company decreased their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com cut 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 stock. According to data from MarketBeat, Blackstone has an average rating of "Hold" and a consensus target price of $154.00.

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.