Team Hewins LLC Invests $1.95 Million in Blackstone Inc. (NYSE:BX)

Team Hewins LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,893 shares of the asset manager's stock, valued at approximately $1,950,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new stake in shares of Blackstone during the fourth quarter worth $25,000. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager's stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Advantage Trust Co purchased a new position in Blackstone during the fourth quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC boosted its stake in Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager's stock worth $31,000 after buying an additional 206 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 2.8 %

BX stock traded down $3.51 during midday trading on Thursday, hitting $123.17. The stock had a trading volume of 3,497,238 shares, compared to its average volume of 3,648,902. Blackstone Inc. has a 12-month low of $81.06 and a 12-month high of $133.56. The company's 50-day moving average price is $124.91 and its 200 day moving average price is $121.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $88.02 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 1.07 and a beta of 1.52.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company's revenue was up 166.9% on a year-over-year basis. On average, equities research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone's dividend payout ratio (DPR) is presently 117.31%.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 219 shares of the firm's stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares of the company's stock, valued at $4,115,488.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm's stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BX. Morgan Stanley raised their target price on Blackstone from $144.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 17th. TD Cowen lowered their target price on shares of Blackstone from $117.00 to $114.00 and set a "hold" rating for the company in a report on Friday, April 19th. JMP Securities reissued a "market perform" rating on shares of Blackstone in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on Blackstone from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 19th. Finally, TheStreet cut Blackstone from a "b" rating to a "c+" rating in a research report on Thursday, January 25th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $123.65.

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.

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