Sherbrooke Park Advisers LLC Invests $315,000 in Blackstone Inc. (NYSE:BX)

Sherbrooke Park Advisers LLC bought a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,829 shares of the asset manager’s stock, valued at approximately $315,000.

A number of other hedge funds have also modified their holdings of BX. Rafferty Asset Management LLC increased its holdings in Blackstone by 3.9% during the 4th quarter. Rafferty Asset Management LLC now owns 256,010 shares of the asset manager’s stock valued at $44,141,000 after purchasing an additional 9,699 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Blackstone during the 4th quarter valued at $833,000. ProShare Advisors LLC increased its holdings in Blackstone by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 154,718 shares of the asset manager’s stock valued at $26,676,000 after purchasing an additional 11,414 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Blackstone by 17.5% during the 4th quarter. Quantinno Capital Management LP now owns 59,980 shares of the asset manager’s stock valued at $10,342,000 after purchasing an additional 8,917 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in Blackstone during the 4th quarter valued at $1,838,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of Blackstone stock opened at $146.69 on Monday. The company has a market capitalization of $107.03 billion, a PE ratio of 40.41, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $137.25 and its 200 day simple moving average is $161.43.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the business posted $0.98 EPS. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is presently 112.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. JMP Securities reiterated a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. TD Cowen decreased their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $154.82.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 237 shares of the company’s stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now directly owns 37,067 shares of the company’s stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,660,538 shares of company stock valued at $24,981,930. 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.