Blackstone Inc. $BX Shares Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC grew its position in Blackstone Inc. (NYSE:BX) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,756 shares of the asset manager’s stock after purchasing an additional 7,803 shares during the quarter. Blackstone makes up 3.5% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Wellington Shields Capital Management LLC’s holdings in Blackstone were worth $24,008,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BX. Jain Global LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $9,116,000. Fayez Sarofim & Co increased its holdings in Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares in the last quarter. Natixis Advisors LLC increased its holdings in Blackstone by 20.4% during the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after acquiring an additional 142,479 shares in the last quarter. Close Asset Management Ltd increased its holdings in Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Blackstone by 2.1% during the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after acquiring an additional 18,339 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Blackstone from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Barclays decreased their price objective on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Piper Sandler lifted their price objective on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Citizens Jmp decreased their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Eleven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $151.05.

Insiders Place Their Bets

In other news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of Blackstone stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the purchase, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. This trade represents a 18.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 12,355,303 shares of company stock valued at $264,789,896 and have sold 9,128,660 shares valued at $46,457,920. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

Shares of BX opened at $118.58 on Tuesday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a market capitalization of $88.09 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.30 and a beta of 1.63. The business’s 50-day moving average is $118.07 and its 200-day moving average is $133.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the company posted $1.11 earnings per share. Blackstone’s revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.