Price T Rowe Associates Inc. MD Has $176.70 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Price T Rowe Associates Inc. MD grew its holdings in Blackstone Inc. (NYSE:BX) by 39.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,345,005 shares of the asset manager’s stock after purchasing an additional 383,827 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.19% of Blackstone worth $176,695,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bay Rivers Group raised its holdings in Blackstone by 0.4% during the 1st quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock worth $2,608,000 after buying an additional 84 shares during the period. BSW Wealth Partners grew its holdings in Blackstone by 1.9% during the first quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after purchasing an additional 84 shares during the period. Mather Group LLC. increased its holdings in shares of Blackstone by 1.2% in the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock valued at $931,000 after purchasing an additional 87 shares during the last quarter. Fragasso Group Inc. increased its stake in shares of Blackstone by 2.9% during the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after purchasing an additional 91 shares during the period. Finally, Clearwater Capital Advisors LLC raised its position in shares of Blackstone by 4.3% in the 1st quarter. Clearwater Capital Advisors LLC now owns 2,210 shares of the asset manager’s stock valued at $290,000 after buying an additional 91 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 0.8 %

Shares of BX traded down $1.19 during mid-day trading on Monday, hitting $140.81. The company had a trading volume of 698,350 shares, compared to its average volume of 3,536,805. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $145.16. The stock has a market cap of $100.63 billion, a PE ratio of 49.74, a P/E/G ratio of 1.21 and a beta of 1.50. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The business’s 50-day simple moving average is $125.80 and its 200-day simple moving average is $125.05.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. Sell-side analysts forecast that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.33%. Blackstone’s dividend payout ratio is currently 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group raised their price objective on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Barclays raised their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Piper Sandler boosted their price target on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $127.56.

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.