Blackstone Inc. (NYSE:BX) Stock Position Decreased by Hoylecohen LLC

Hoylecohen LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,598 shares of the asset manager’s stock after selling 1,016 shares during the period. Blackstone accounts for approximately 1.4% of Hoylecohen LLC’s holdings, making the stock its 17th biggest position. Hoylecohen LLC’s holdings in Blackstone were worth $17,098,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BX. Vanguard Group Inc. grew its position in Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after purchasing an additional 14,396,655 shares during the last quarter. Norges Bank bought a new position in Blackstone in the 4th quarter worth about $708,859,000. International Assets Investment Management LLC grew its position in Blackstone by 13,816.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after purchasing an additional 3,597,828 shares during the last quarter. Northern Trust Corp grew its position in Blackstone by 43.9% in the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after purchasing an additional 2,098,150 shares during the last quarter. Finally, Invesco Ltd. grew its position in Blackstone by 255.2% in the 3rd quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock worth $289,073,000 after purchasing an additional 1,938,593 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.4 %

Blackstone stock traded up $0.52 during trading hours on Friday, hitting $123.63. The company had a trading volume of 1,814,976 shares, compared to its average volume of 3,630,757. The firm has a market capitalization of $88.35 billion, a P/E ratio of 43.62, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s fifty day moving average is $124.88 and its 200-day moving average is $121.69. Blackstone Inc. has a fifty-two week low of $81.94 and a fifty-two week high of $133.56.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.97 EPS. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. On average, research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.69%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were 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 directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were 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 directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $119.48 per share, with a total value of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BX has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Argus upped their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America cut their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Finally, UBS Group increased their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $123.65.

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.