Cerity Partners LLC Acquires 3,928 Shares of Blackstone Inc. (NYSE:BX)

Cerity Partners LLC lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,142 shares of the asset manager's stock after acquiring an additional 3,928 shares during the period. Cerity Partners LLC owned about 0.05% of Blackstone worth $64,029,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC grew its holdings in shares of Blackstone by 8.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 78,412 shares of the asset manager's stock valued at $13,520,000 after purchasing an additional 5,794 shares during the last quarter. Trek Financial LLC bought a new stake in Blackstone in the fourth quarter valued at $849,000. FMR LLC grew its position in shares of 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 acquiring an additional 835,170 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Blackstone by 556.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,819 shares of the asset manager's stock valued at $1,521,000 after purchasing an additional 7,475 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Blackstone by 6.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,483 shares of the asset manager's stock valued at $428,000 after purchasing an additional 146 shares during the period. Institutional investors own 70.00% of the company's stock.

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Insider Buying and Selling

In related news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.2 %

Shares of NYSE:BX traded down $0.26 during midday trading on Friday, hitting $127.19. 7,805,964 shares of the stock were exchanged, compared to its average volume of 3,689,276. The company has a market capitalization of $92.77 billion, a PE ratio of 35.04, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The business's fifty day simple moving average is $149.11 and its two-hundred day simple moving average is $165.71.

Blackstone (NYSE:BX - Get Free Report) last announced 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%. As a group, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio is currently 158.68%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BX. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective for the company in a report on Monday, March 17th. TD Cowen lowered their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday. Piper Sandler lowered their target price on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a report on Friday, January 31st. Finally, JMP Securities upgraded Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $157.22.

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.