Aljian Capital Management LLC Has $1.80 Million Stock Position in Blackstone Inc. (NYSE:BX)

Aljian Capital Management LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,888 shares of the asset manager’s stock after purchasing an additional 195 shares during the quarter. Aljian Capital Management LLC’s holdings in Blackstone were worth $1,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Norges Bank bought a new position in Blackstone in the 4th quarter valued at about $974,448,000. Raymond James Financial Inc. bought a new position in Blackstone in the fourth quarter valued at approximately $316,257,000. Capital Research Global Investors bought a new position in Blackstone in the fourth quarter valued at about $239,837,000. GAMMA Investing LLC grew its stake in shares of Blackstone by 14,608.6% during the first quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager’s stock worth $184,873,000 after buying an additional 1,313,606 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider John G. Finley sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the 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 transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This 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 insiders.

Blackstone Stock Up 2.1%

BX stock opened at $151.29 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a market cap of $110.39 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 1.39 and a beta of 1.65. The firm has a 50-day moving average of $138.66 and a two-hundred day moving average of $152.36. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $0.98 EPS. As a group, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America cut their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. UBS Group lowered their price target on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. TD Cowen decreased their price target on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup decreased their target price on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $155.65.

About Blackstone

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.