Steward Partners Investment Advisory LLC Has $12.98 Million Stake in Blackstone Inc. (NYSE:BX)

Steward Partners Investment Advisory LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,134 shares of the asset manager’s stock after purchasing an additional 5,585 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Blackstone were worth $12,979,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BX. Northwest Financial Advisors bought a new position in shares of Blackstone in the fourth quarter valued at about $25,000. Bourgeon Capital Management LLC raised its stake in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Advantage Trust Co acquired a new position in Blackstone during the 4th quarter worth $30,000. Finally, Exchange Traded Concepts LLC raised its position in shares of 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 acquiring an additional 206 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BX. Morgan Stanley lifted their price objective on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Piper Sandler cut their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. TD Cowen dropped their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Barclays reiterated an “equal weight” rating and issued a $125.00 price objective (down previously from $129.00) on shares of Blackstone in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. decreased their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $123.65.

Get Our Latest Analysis on Blackstone

Insider Transactions at Blackstone

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 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 of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, 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 accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 3.4 %

NYSE BX traded down $4.08 during trading hours on Wednesday, hitting $117.13. 948,779 shares of the company traded hands, compared to its average volume of 3,595,307. Blackstone Inc. has a twelve month low of $82.54 and a twelve month high of $133.56. The stock has a market capitalization of $83.71 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 1.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50-day moving average is $124.80 and its 200-day moving average is $122.54.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $2.56 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. Sell-side analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.83%. Blackstone’s dividend payout ratio is 117.31%.

Blackstone Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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