Blackstone Inc. (NYSE:BX) Shares Sold by Bokf Na

Bokf Na lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,375 shares of the asset manager’s stock after selling 115 shares during the period. Bokf Na’s holdings in Blackstone were worth $3,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Blackstone in the fourth quarter valued at $974,448,000. Raymond James Financial Inc. purchased a new position in shares of Blackstone during the fourth quarter worth approximately $316,257,000. Capital Research Global Investors purchased a new stake in Blackstone in the 4th quarter valued at $239,837,000. Vanguard Group Inc. increased its stake in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. Finally, FMR LLC boosted its stake in shares of Blackstone by 38.8% during the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager’s stock worth $515,577,000 after buying an additional 835,170 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BX shares. Citigroup decreased their price objective on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. TD Cowen dropped their price target on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price target on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $154.82.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,660,538 shares of company stock worth $24,981,930. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 1.6 %

Shares of Blackstone stock opened at $136.11 on Thursday. The business has a 50 day moving average price of $137.46 and a 200 day moving average price of $162.68. The company has a market capitalization of $99.28 billion, a P/E ratio of 37.49, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the business posted $0.98 EPS. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Blackstone Company 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.