Fisher Asset Management LLC Buys 459 Shares of Blackstone Inc. (NYSE:BX)

Fisher Asset Management LLC raised its stake in Blackstone Inc. (NYSE:BX) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,688 shares of the asset manager’s stock after acquiring an additional 459 shares during the period. Fisher Asset Management LLC’s holdings in Blackstone were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Congress Wealth Management LLC DE increased its holdings in shares of Blackstone by 36.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock worth $4,741,000 after buying an additional 9,699 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Blackstone by 8.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock worth $48,158,000 after buying an additional 28,856 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Blackstone by 8.9% in the 4th quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock worth $33,267,000 after buying an additional 20,830 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Blackstone in the 4th quarter worth about $855,000. Finally, Asset Management One Co. Ltd. grew its holdings in Blackstone by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America cut their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. UBS Group boosted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Piper Sandler lowered their price objective 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. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average target price of $123.65.

Insider Buying and Selling at Blackstone

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

Blackstone Trading Down 0.4 %

NYSE BX opened at $124.12 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $88.70 billion, a PE ratio of 43.86, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a 50 day moving average price of $122.03 and a 200 day moving average price of $124.18. Blackstone Inc. has a 52 week low of $87.40 and a 52 week high of $133.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted $0.97 EPS. Blackstone’s revenue was up 166.9% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.67%. Blackstone’s 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.