ProShare Advisors LLC Acquires 11,414 Shares of Blackstone Inc. (NYSE:BX)

ProShare Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,718 shares of the asset manager's stock after acquiring an additional 11,414 shares during the period. ProShare Advisors LLC's holdings in Blackstone were worth $26,676,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC grew its holdings in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position 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 worth $1,970,000 after buying an additional 62 shares during the last quarter. McAdam LLC lifted its position in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after buying an additional 63 shares during the last quarter. CENTRAL TRUST Co lifted its position in shares of Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after buying an additional 63 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its position in shares of Blackstone by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager's stock worth $365,000 after buying an additional 65 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat bought 237 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Trading Down 0.9%

Shares of BX stock traded down $1.35 during trading hours on Tuesday, reaching $144.10. 4,566,010 shares of the stock traded hands, compared to its average volume of 3,778,100. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business has a fifty day moving average price of $137.35 and a 200 day moving average price of $161.28. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $105.14 billion, a PE ratio of 39.70, a PEG ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 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 in the prior year, the business posted $0.98 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS 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 issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BX. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Piper Sandler cut 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 cut their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Bank of America cut their price objective 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. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $154.82.

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.