Blackstone Inc. (NYSE:BX) Shares Purchased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 1,466.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,425 shares of the asset manager’s stock after buying an additional 99,631 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Blackstone were worth $13,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. UNIVEST FINANCIAL Corp lifted its position in shares of Blackstone by 2.9% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock worth $435,000 after purchasing an additional 95 shares in the last quarter. Marino Stram & Associates LLC increased its stake in shares of Blackstone by 3.8% in the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock worth $339,000 after buying an additional 96 shares during the last quarter. FFT Wealth Management LLC increased its stake in shares of Blackstone by 2.0% in the fourth quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock worth $667,000 after buying an additional 99 shares during the last quarter. Mayfair Advisory Group LLC increased its stake in shares of Blackstone by 2.7% in the fourth quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock worth $484,000 after buying an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of Blackstone by 23.0% in the fourth quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager’s stock worth $70,000 after buying an additional 100 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

BX stock opened at $119.18 on Friday. The company has a market capitalization of $85.17 billion, a P/E ratio of 42.11, a PEG ratio of 1.02 and a beta of 1.53. The company has a 50-day simple moving average of $123.37 and a 200 day simple moving average of $123.07. Blackstone Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

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, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company earned $0.97 EPS. Blackstone’s revenue was up 166.9% on a year-over-year basis. Sell-side analysts predict that Blackstone Inc. will post 4.77 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 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, April 26th. Blackstone’s payout ratio is 117.31%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 219 shares of Blackstone stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. Bank of America dropped their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Piper Sandler lowered their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. UBS Group boosted their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Barclays reiterated an “equal weight” rating and set a $125.00 target price (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, TD Cowen lowered their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.65.

View Our Latest Stock Report on Blackstone

Blackstone 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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