Stephens Inc. AR Buys 15,658 Shares of Blackstone Inc. (NYSE:BX)

Stephens Inc. AR increased its stake in Blackstone Inc. (NYSE:BXFree Report) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 285,395 shares of the asset manager’s stock after purchasing an additional 15,658 shares during the quarter. Stephens Inc. AR’s holdings in Blackstone were worth $37,364,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. WealthPlan Investment Management LLC raised its holdings in Blackstone by 914.4% during the third quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock valued at $2,325,000 after acquiring an additional 19,558 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in Blackstone during the third quarter valued at about $252,000. Spire Wealth Management raised its holdings in Blackstone by 5.2% during the third quarter. Spire Wealth Management now owns 31,109 shares of the asset manager’s stock valued at $3,333,000 after acquiring an additional 1,537 shares during the period. Blue Square Asset Management LLC increased its holdings in shares of Blackstone by 5.1% in the third quarter. Blue Square Asset Management LLC now owns 18,113 shares of the asset manager’s stock worth $1,941,000 after purchasing an additional 887 shares during the last quarter. Finally, Platform Technology Partners increased its holdings in shares of Blackstone by 3.2% in the third quarter. Platform Technology Partners now owns 18,416 shares of the asset manager’s stock worth $1,973,000 after purchasing an additional 568 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BX. Morgan Stanley lifted their target price on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Bank of America reduced 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. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. UBS Group lifted their price target on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Piper Sandler dropped their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $123.65.

Get Our Latest Analysis on BX

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Down 0.5 %

Shares of NYSE:BX traded down $0.64 during trading hours on Friday, hitting $118.53. 838,022 shares of the company’s stock traded hands, compared to its average volume of 3,580,027. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $84.71 billion, a P/E ratio of 41.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The business has a fifty day moving average price of $123.37 and a 200-day moving average price of $123.07. Blackstone Inc. has a 1 year low of $86.17 and a 1 year high of $133.56.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $3.69 billion during 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%. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.80%. Blackstone’s payout ratio is 117.31%.

About Blackstone

(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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