Manchester Capital Management LLC Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Manchester Capital Management LLC grew its holdings in Blackstone Inc. (NYSE:BXFree Report) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,085 shares of the asset manager’s stock after buying an additional 340 shares during the period. Manchester Capital Management LLC’s holdings in Blackstone were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Vanguard Group Inc. boosted its stake in shares of Blackstone by 30.2% during 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 purchasing an additional 14,396,655 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Blackstone by 13.3% in the third 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 during the period. Northern Trust Corp increased its holdings in Blackstone by 43.9% during the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after purchasing an additional 2,098,150 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Blackstone by 5.3% in the 4th quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock worth $841,783,000 after buying an additional 322,860 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Blackstone by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 5,246,005 shares of the asset manager’s stock worth $562,058,000 after buying an additional 106,251 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX traded down $2.21 during trading hours on Friday, hitting $125.67. The stock had a trading volume of 3,954,095 shares, compared to its average volume of 3,481,419. The firm has a market capitalization of $89.81 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.07 and a beta of 1.52. Blackstone Inc. has a fifty-two week low of $81.06 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a 50-day moving average price of $124.80 and a 200 day moving average price of $121.08.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, research analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.64%. Blackstone’s payout ratio is currently 117.31%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Piper Sandler dropped their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $116.00 to $124.00 in a research note on Friday, January 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.65.

Check Out Our Latest Analysis on BX

Insiders Place Their Bets

In related news, Director Reginald J. Brown bought 2,400 shares of the stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $125.62 per share, for a total transaction of $301,488.00. Following the acquisition, the director now directly owns 16,949 shares in the company, valued at approximately $2,129,133.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blackstone news, Director Reginald J. Brown acquired 2,400 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $125.62 per share, for a total transaction of $301,488.00. Following the completion of the transaction, the director now owns 16,949 shares of the company’s stock, valued at approximately $2,129,133.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 shares were 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 approximately $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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