Wellington Management Group LLP Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

Wellington Management Group LLP decreased its holdings in Blackstone Inc. (NYSE:BX) by 66.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,204,546 shares of the asset manager’s stock after selling 2,435,225 shares during the period. Wellington Management Group LLP owned about 0.17% of Blackstone worth $157,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Northwest Financial Advisors bought a new position in Blackstone in the 4th quarter worth about $25,000. Bourgeon Capital Management LLC raised its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Blackstone during the 4th quarter worth $30,000. Advantage Trust Co bought a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Finally, Exchange Traded Concepts LLC increased its position in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BX shares. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Morgan Stanley raised their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Piper Sandler decreased their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Bank of America cut their price objective on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, TD Cowen cut their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $123.65.

Blackstone Stock Performance

BX opened at $122.90 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $122.07 and a two-hundred day moving average of $123.97. Blackstone Inc. has a 12-month low of $87.40 and a 12-month high of $133.56. The firm has a market capitalization of $87.83 billion, a PE ratio of 43.43, a P/E/G ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 219 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate 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.