Blackstone Inc. (NYSE:BX) Shares Purchased by Tenere Capital LLC

Tenere Capital LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,300 shares of the asset manager's stock after buying an additional 22,180 shares during the quarter. Blackstone accounts for about 5.1% of Tenere Capital LLC's holdings, making the stock its 7th biggest holding. Tenere Capital LLC's holdings in Blackstone were worth $19,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. Wealthcare Capital Partners LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $2,102,000. Highland Capital Management LLC raised its position in Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock valued at $3,845,000 after purchasing an additional 15,205 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Blackstone by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock worth $10,053,000 after buying an additional 4,688 shares during the period. Vanguard Group Inc. lifted its position 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 during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Blackstone by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager's stock valued at $139,302,000 after acquiring an additional 51,897 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley reduced their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Cowen reiterated a "buy" rating on shares of Blackstone in a research note on Monday. Barclays raised their price target on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Piper Sandler dropped their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.72.

Blackstone Stock Performance

Blackstone stock opened at $124.89 on Wednesday. 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 company has a market capitalization of $91.10 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a fifty day moving average of $143.60 and a two-hundred day moving average of $164.45.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the firm earned $0.98 EPS. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.98%. Blackstone's payout ratio is 158.68%.

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.

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