Pennington Partners & CO. LLC Buys Shares of 2,118 Blackstone Inc. (NYSE:BX)

Pennington Partners & CO. LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,118 shares of the asset manager's stock, valued at approximately $365,000.

Several other hedge funds also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in Blackstone in the third quarter worth $4,501,000. Synovus Financial Corp raised its position in Blackstone by 0.3% during the 3rd quarter. Synovus Financial Corp now owns 31,635 shares of the asset manager's stock worth $4,844,000 after buying an additional 95 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Blackstone by 3.0% in the third quarter. Franklin Resources Inc. now owns 1,357,529 shares of the asset manager's stock valued at $211,082,000 after purchasing an additional 39,394 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Blackstone during the third quarter valued at approximately $615,000. Finally, Retirement Systems of Alabama boosted its holdings in Blackstone by 0.3% during the third quarter. Retirement Systems of Alabama now owns 158,168 shares of the asset manager's stock worth $24,220,000 after buying an additional 524 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Up 1.4 %

NYSE:BX opened at $133.51 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock's 50 day moving average price is $139.28 and its 200 day moving average price is $163.47. The company has a market capitalization of $97.38 billion, a PE ratio of 36.78, a P/E/G ratio of 1.07 and a beta of 1.61.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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. Barclays upped their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Citigroup decreased their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Bank of America cut their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Blackstone has an average rating of "Hold" and a consensus target price of $154.82.

Insider Buying and Selling at Blackstone

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

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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