Israel Discount Bank of New York Acquires New Shares in Blackstone Inc. (NYSE:BX)

Israel Discount Bank of New York acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,180 shares of the asset manager’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock valued at $2,637,266,000 after purchasing an additional 444,887 shares during the period. Invesco Ltd. grew its holdings in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock valued at $1,032,400,000 after buying an additional 371,677 shares in the last quarter. Norges Bank bought a new position in Blackstone in the 4th quarter valued at $974,448,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Blackstone by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock worth $697,464,000 after purchasing an additional 113,732 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $132.80 on Monday. The business’s 50 day moving average price is $141.56 and its 200-day moving average price is $164.19. The firm has a market capitalization of $96.87 billion, a PE ratio of 36.58, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the firm earned $0.98 earnings per share. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.80%. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Wall Street Analyst Weigh In

BX has been the topic of several research reports. Piper Sandler decreased their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $165.00 price objective on shares of Blackstone in a research report on Thursday. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $154.82.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company 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.