1,801 Shares in Blackstone Inc. (NYSE:BX) Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,801 shares of the asset manager’s stock, valued at approximately $236,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Blackstone by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after purchasing an additional 1,744,652 shares in the last quarter. Northern Trust Corp raised its stake in shares of Blackstone by 43.9% in the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after buying an additional 2,098,150 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Blackstone by 2.1% in the third quarter. Legal & General Group Plc now owns 5,246,005 shares of the asset manager’s stock valued at $562,058,000 after buying an additional 106,251 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after acquiring an additional 3,597,828 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone 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 transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock valued at $37,816,476 over the last three months. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

NYSE:BX traded up $0.32 during midday trading on Tuesday, reaching $121.53. The stock had a trading volume of 3,233,853 shares, compared to its average volume of 3,682,961. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. Blackstone Inc. has a 1-year low of $80.05 and a 1-year high of $133.56. The firm’s fifty day simple moving average is $124.96 and its 200-day simple moving average is $119.45. The stock has a market capitalization of $86.85 billion, a P/E ratio of 42.94, a PEG ratio of 0.98 and a beta of 1.52.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Wells Fargo & Company raised their price objective on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. TD Cowen decreased their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 19th. Finally, UBS Group upped their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.65.

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.