Blackstone Inc. (NYSE:BX) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its position in Blackstone Inc. (NYSE:BX) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,000 shares of the asset manager’s stock after purchasing an additional 398 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Blackstone were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Blue Zone Wealth Advisors LLC grew its position in Blackstone by 15.1% in the first quarter. Blue Zone Wealth Advisors LLC now owns 40,621 shares of the asset manager’s stock worth $5,678,000 after buying an additional 5,338 shares during the last quarter. Verum Partners LLC grew its position in Blackstone by 2.7% in the first quarter. Verum Partners LLC now owns 3,152 shares of the asset manager’s stock worth $441,000 after buying an additional 83 shares during the last quarter. Pines Wealth Management LLC grew its position in Blackstone by 5.7% in the first quarter. Pines Wealth Management LLC now owns 2,215 shares of the asset manager’s stock worth $310,000 after buying an additional 119 shares during the last quarter. Next Level Private LLC grew its position in Blackstone by 0.5% in the first quarter. Next Level Private LLC now owns 31,821 shares of the asset manager’s stock worth $4,448,000 after buying an additional 163 shares during the last quarter. Finally, Magnus Financial Group LLC grew its position in Blackstone by 5.1% in the first quarter. Magnus Financial Group LLC now owns 20,179 shares of the asset manager’s stock worth $2,821,000 after buying an additional 987 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This trade represents a 5.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 1.9%

Shares of NYSE:BX opened at $140.42 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.67 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 firm has a fifty day moving average of $135.47 and a two-hundred day moving average of $157.21. The firm has a market capitalization of $102.46 billion, a P/E ratio of 38.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities analysts expect 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. Investors of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is presently 112.05%.

Analyst Ratings Changes

Several research analysts have issued reports on BX shares. Bank of America decreased their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. UBS Group decreased their price objective on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley decreased their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Piper Sandler decreased their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $155.65.

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.