272,652 Shares in Blackstone Inc. (NYSE:BX) Bought by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 272,652 shares of the asset manager’s stock, valued at approximately $47,011,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BX. ORG Partners LLC increased its holdings in shares of Blackstone by 232.1% in the 4th quarter. ORG Partners LLC now owns 279 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 195 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Blackstone by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 14,278 shares of the asset manager’s stock valued at $2,462,000 after acquiring an additional 352 shares during the period. Czech National Bank lifted its position in Blackstone by 6.7% in the fourth quarter. Czech National Bank now owns 156,545 shares of the asset manager’s stock worth $26,991,000 after purchasing an additional 9,858 shares during the period. Trust Co. of Toledo NA OH lifted its position in Blackstone by 7.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 20,616 shares of the asset manager’s stock worth $3,555,000 after purchasing an additional 1,432 shares during the period. Finally, Brookstone Capital Management raised its stake in Blackstone by 57.2% during the fourth quarter. Brookstone Capital Management now owns 9,422 shares of the asset manager’s stock worth $1,625,000 after acquiring an additional 3,428 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat bought 237 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the purchase, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,660,538 shares of company stock valued at $24,981,930. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.3%

Shares of BX stock opened at $139.41 on Monday. The stock’s 50-day moving average price is $136.87 and its 200-day moving average price is $162.18. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The stock has a market capitalization of $101.72 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the company posted $0.98 EPS. Equities research analysts predict 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. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s payout ratio is currently 112.05%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research reports. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $154.82.

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.