Blackstone Inc. (NYSE:BX) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 26,802 shares of the asset manager’s stock after selling 335 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Blackstone were worth $3,509,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. WealthPlan Investment Management LLC lifted its holdings in Blackstone by 914.4% in the third quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock worth $2,325,000 after acquiring an additional 19,558 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Blackstone by 59.7% during the third quarter. Larson Financial Group LLC now owns 4,119 shares of the asset manager’s stock valued at $441,000 after buying an additional 1,540 shares during the last quarter. US Bancorp DE raised its holdings in shares of Blackstone by 2.9% during the third quarter. US Bancorp DE now owns 155,672 shares of the asset manager’s stock valued at $16,679,000 after buying an additional 4,448 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Blackstone by 2.4% during the third quarter. Corient Private Wealth LLC now owns 329,229 shares of the asset manager’s stock valued at $35,278,000 after buying an additional 7,700 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Blackstone by 12.7% during the third quarter. Signaturefd LLC now owns 12,626 shares of the asset manager’s stock valued at $1,353,000 after buying an additional 1,425 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BX shares. TD Cowen lowered their price objective on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Argus raised their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Piper Sandler decreased their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $123.65.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 219 shares of the business’s stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible 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 dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Porat purchased 219 shares of Blackstone stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.2 %

Shares of BX stock traded down $0.20 on Thursday, hitting $126.48. The company’s stock had a trading volume of 281,888 shares, compared to its average volume of 3,615,193. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a fifty-two week low of $81.06 and a fifty-two week high of $133.56. The firm’s fifty day moving average price is $124.91 and its 200-day moving average price is $121.68. The stock has a market capitalization of $90.39 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.07 and a beta of 1.52.

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

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders 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 yield of 2.62%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is 117.31%.

Blackstone Company 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.