Douglass Winthrop Advisors LLC Grows Position in Blackstone Inc. (NYSE:BX)

Douglass Winthrop Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,100 shares of the asset manager’s stock after buying an additional 1,000 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Blackstone were worth $1,453,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northwest Financial Advisors purchased a new stake in Blackstone during the 4th quarter valued at approximately $25,000. Bourgeon Capital Management LLC increased its holdings in shares of Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new position in Blackstone during the fourth quarter valued at approximately $30,000. Advantage Trust Co bought a new stake in Blackstone in the 4th quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Ruth Porat bought 219 shares of the company’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BX. Morgan Stanley upped their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Piper Sandler cut their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, UBS Group lifted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $123.65.

Read Our Latest Research Report on BX

Blackstone Stock Up 0.4 %

Shares of BX traded up $0.53 during midday trading on Monday, hitting $123.64. 1,815,300 shares of the company’s stock traded hands, compared to its average volume of 3,630,760. Blackstone Inc. has a 1 year low of $81.94 and a 1 year high of $133.56. The firm’s fifty day moving average is $124.85 and its 200-day moving average is $122.38. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $88.36 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.69%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Blackstone Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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