7,896 Shares in Blackstone Inc. (NYSE:BX) Purchased by DRW Securities LLC

DRW Securities LLC purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,896 shares of the asset manager's stock, valued at approximately $1,361,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Norges Bank acquired a new position in shares of Blackstone during the 4th quarter worth about $974,448,000. Raymond James Financial Inc. bought a new position in Blackstone in the fourth quarter valued at approximately $316,257,000. Vanguard Group Inc. raised its stake in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. FMR LLC increased its holdings in Blackstone by 38.8% during the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after buying an additional 835,170 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Blackstone by 2,057.7% in the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock valued at $145,653,000 after acquiring an additional 805,604 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. UBS Group upgraded Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price target for the company in a research note on Monday, March 17th. TD Cowen dropped their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $155.72.

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Blackstone Stock Up 2.8 %

Shares of NYSE BX traded up $3.64 during trading on Tuesday, hitting $134.11. 2,659,455 shares of the company traded hands, compared to its average volume of 3,698,477. The business's fifty day moving average is $148.21 and its 200 day moving average is $165.54. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market capitalization of $97.82 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.29%. Blackstone's payout ratio is presently 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

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.