Somerset Group LLC Has $3.73 Million Stake in Blackstone Inc. (NYSE:BX)

Somerset Group LLC grew its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,487 shares of the asset manager’s stock after acquiring an additional 148 shares during the quarter. Blackstone comprises about 3.1% of Somerset Group LLC’s investment portfolio, making the stock its 8th largest holding. Somerset Group LLC’s holdings in Blackstone were worth $3,730,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WealthPlan Investment Management LLC grew its holdings in Blackstone by 914.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock worth $2,325,000 after buying an additional 19,558 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Blackstone by 11.7% during the third quarter. Assenagon Asset Management S.A. now owns 15,059 shares of the asset manager’s stock valued at $1,613,000 after purchasing an additional 1,583 shares during the period. Retirement Systems of Alabama acquired a new stake in Blackstone in the third quarter worth about $17,194,000. Childress Capital Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $179,000. Finally, GYL Financial Synergies LLC bought a new stake in shares of Blackstone during the 3rd quarter worth about $207,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

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

Blackstone Stock Up 0.4 %

Blackstone stock traded up $0.53 during trading hours on Monday, hitting $123.64. The company had a trading volume of 1,815,300 shares, compared to its average volume of 3,630,760. The firm’s fifty day moving average is $124.85 and its 200-day moving average is $122.19. The firm has a market capitalization of $88.36 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. Blackstone Inc. has a fifty-two week low of $81.94 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date 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 117.31%.

Wall Street Analyst Weigh In

BX has been the topic of several recent analyst reports. Bank of America dropped their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Barclays reaffirmed an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Argus increased their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.65.

Get Our Latest Analysis on Blackstone

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.

Featured Stories

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.