Blackstone Inc. (NYSE:BX) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,602 shares of the asset manager’s stock after buying an additional 1,036 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Blackstone were worth $1,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its holdings in shares of Blackstone by 5.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares during the period. Chicago Capital LLC acquired a new position in Blackstone in the fourth quarter worth approximately $3,734,000. Kampmann Melissa S. acquired a new position in Blackstone in the third quarter worth approximately $2,314,000. The Manufacturers Life Insurance Company increased its holdings in Blackstone by 1,722.9% in the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after buying an additional 476,768 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in Blackstone by 536.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after buying an additional 11,110 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 232 shares of the 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 transaction, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ruth Porat bought 232 shares of Blackstone stock in a transaction on Monday, February 12th. The shares were bought at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the acquisition, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Insiders sold a total of 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 company insiders.

Blackstone Price Performance

Blackstone stock traded down $0.92 during mid-day trading on Friday, hitting $122.44. 2,962,411 shares of the company were exchanged, compared to its average volume of 3,686,269. Blackstone Inc. has a 1-year low of $79.92 and a 1-year high of $133.56. The company has a market capitalization of $87.50 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $125.96 and a 200 day moving average of $118.39.

Blackstone (NYSE:BX) last announced its 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 return on equity of 17.33% and a net margin of 20.84%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, sell-side analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.71%. Blackstone’s payout ratio is 132.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BX shares. UBS Group upped their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. TD Cowen decreased their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company increased their price objective on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.