Mutual Advisors LLC Raises Stock Position in Blackstone Inc. (NYSE:BX)

Mutual Advisors LLC boosted its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,230 shares of the asset manager’s stock after buying an additional 401 shares during the period. Mutual Advisors LLC’s holdings in Blackstone were worth $1,427,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brown Miller Wealth Management LLC increased its holdings in Blackstone by 137.0% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,454 shares of the asset manager’s stock valued at $553,000 after buying an additional 4,309 shares during the period. Next Capital Management LLC grew its holdings in Blackstone by 18.6% in the fourth quarter. Next Capital Management LLC now owns 16,415 shares of the asset manager’s stock worth $1,218,000 after purchasing an additional 2,574 shares during the last quarter. Yarbrough Capital LLC grew its holdings in shares of Blackstone by 28.6% during the fourth quarter. Yarbrough Capital LLC now owns 94,255 shares of the asset manager’s stock valued at $6,993,000 after buying an additional 20,967 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Blackstone by 6.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 31,364 shares of the asset manager’s stock valued at $2,327,000 after buying an additional 1,968 shares during the last quarter. Finally, Accuvest Global Advisors grew its holdings in shares of Blackstone by 71.4% during the fourth quarter. Accuvest Global Advisors now owns 143,640 shares of the asset manager’s stock valued at $10,657,000 after buying an additional 59,860 shares during the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 277 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was acquired at an average cost of $92.61 per share, for a total transaction of $25,652.97. Following the transaction, the director now directly owns 30,851 shares in the company, valued at $2,857,111.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ruth Porat acquired 277 shares of Blackstone stock in a transaction on Monday, February 13th. The stock was purchased at an average price of $92.61 per share, with a total value of $25,652.97. Following the completion of the purchase, the director now owns 30,851 shares of the company’s stock, valued at approximately $2,857,111.11. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 85,000 shares of Blackstone stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $95.94, for a total value of $8,154,900.00. Following the sale, the director now owns 1,122,168 shares in the company, valued at $107,660,797.92. The disclosure for this sale can be found here. Insiders have sold a total of 140,532,616 shares of company stock worth $1,726,902,967 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 3.3 %

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Shares of BX stock opened at $83.98 on Thursday. The business’s 50 day moving average is $90.12 and its two-hundred day moving average is $87.83. The company has a market cap of $59.32 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.69. Blackstone Inc. has a 12 month low of $71.72 and a 12 month high of $132.93.

Blackstone (NYSE:BX – Get Rating) last announced its earnings results on Thursday, January 26th. The asset manager reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $2.62 billion. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. During the same period last year, the company posted $1.71 earnings per share. Equities analysts predict that Blackstone Inc. will post 4.66 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, February 6th were paid a $0.91 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $3.64 annualized dividend and a yield of 4.33%. Blackstone’s payout ratio is presently 153.59%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BX. Morgan Stanley boosted their target price on shares of Blackstone from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, January 30th. Barclays upped their price target on shares of Blackstone from $86.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. StockNews.com assumed coverage on shares of Blackstone in a report on Thursday, March 16th. They issued a “sell” rating on the stock. The Goldman Sachs Group increased their target price on shares of Blackstone from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Finally, Piper Sandler reduced their price objective on shares of Blackstone from $114.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday, December 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.33.

About Blackstone

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Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.