Blackstone Inc. (NYSE:BX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in shares of Blackstone Inc. (NYSE:BX) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,471 shares of the asset manager’s stock after acquiring an additional 7,159 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Blackstone were worth $9,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC increased its position in Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Exchange Traded Concepts LLC increased its position in Blackstone by 763.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $33,000. Coppell Advisory Solutions LLC acquired a new position in shares of Blackstone in the second quarter valued at approximately $25,000. Finally, Family CFO Inc acquired a new position in shares of Blackstone in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler dropped their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods boosted their target price on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Finally, UBS Group lifted their price target on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $119.97.

Blackstone Stock Down 2.4 %

BX opened at $120.28 on Friday. The business’s fifty day moving average is $126.66 and its two-hundred day moving average is $117.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.01 and a beta of 1.51. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.02). Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The firm’s revenue was up 166.9% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.76%. Blackstone’s dividend payout ratio is currently 205.46%.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 232 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 232 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $127.08 per share, with a total value of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Profile

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.