Blackstone Inc. (NYSE:BX) Stake Lessened by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its position in Blackstone Inc. (NYSE:BX - Free Report) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,476 shares of the asset manager's stock after selling 29,613 shares during the period. Pinebridge Investments L.P.'s holdings in Blackstone were worth $25,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock valued at $2,790,000 after purchasing an additional 59 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after purchasing an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after purchasing an additional 62 shares during the last quarter. McAdam LLC grew its stake in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after purchasing an additional 63 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Blackstone by 0.6% in the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock valued at $1,903,000 after buying an additional 63 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Wells Fargo & Company decreased their target price on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus price target of $154.82.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Blackstone Trading Down 0.5 %

Shares of BX traded down $0.67 during mid-day trading on Tuesday, hitting $132.92. The company had a trading volume of 882,549 shares, compared to its average volume of 3,752,346. The business's 50-day simple moving average is $140.89 and its 200-day simple moving average is $164.05. 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 1-year low of $115.66 and a 1-year high of $200.96. The stock has a market cap of $96.95 billion, a PE ratio of 36.60, a P/E/G ratio of 1.07 and a beta of 1.61.

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). The business had revenue of $2.76 billion for 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 period last year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a dividend of $0.93 per share. 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 dividend payout ratio (DPR) is 112.05%.

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.