Axiom Investors LLC DE Has $342.24 Million Stock Position in Blackstone Inc. (NYSE:BX)

Axiom Investors LLC DE grew its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 61.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,984,892 shares of the asset manager's stock after acquiring an additional 753,766 shares during the quarter. Blackstone accounts for approximately 2.5% of Axiom Investors LLC DE's investment portfolio, making the stock its 10th largest position. Axiom Investors LLC DE owned 0.27% of Blackstone worth $342,235,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Blackstone during the 4th quarter worth approximately $974,448,000. Raymond James Financial Inc. acquired a new position in shares of Blackstone during the fourth quarter worth $316,257,000. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% in the fourth 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 during the last quarter. Proficio Capital Partners LLC raised its position in Blackstone by 2,057.7% during the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock worth $145,653,000 after purchasing an additional 805,604 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock valued at $167,825,000 after buying an additional 512,165 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BX. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Thursday, March 20th. BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Finally, Bank of America dropped their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $172.06.

Blackstone Stock Down 6.3 %

Blackstone stock traded down $8.42 during trading on Friday, hitting $124.68. 13,061,223 shares of the company were exchanged, compared to its average volume of 3,534,266. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $156.29 and its 200 day moving average is $167.03. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a market capitalization of $90.94 billion, a P/E ratio of 34.35, a PEG ratio of 1.07 and a beta of 1.61.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is 158.68%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.