Bessemer Group Inc. Has $313.70 Million Position in Blackstone Inc. (NYSE:BX)

Bessemer Group Inc. decreased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,819,369 shares of the asset manager's stock after selling 1,604,699 shares during the period. Bessemer Group Inc. owned about 0.25% of Blackstone worth $313,696,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone during the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Up 2.3 %

NYSE:BX traded up $2.95 during trading hours on Monday, hitting $130.13. 3,152,998 shares of the stock traded hands, compared to its average volume of 3,687,646. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. 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 firm has a market cap of $94.92 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.07 and a beta of 1.61. The firm has a 50 day moving average price of $149.11 and a 200 day moving average price of $165.71.

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Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.43%. Blackstone's payout ratio is presently 158.68%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of Blackstone from $186.00 to $129.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Morgan Stanley cut their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday. Piper Sandler decreased their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Citigroup reduced their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company 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 MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus price target of $155.72.

About Blackstone

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.