Blackstone Inc. (NYSE:BX) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,213 shares of the asset manager's stock after purchasing an additional 13,555 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Blackstone worth $82,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at about $2,102,000. Highland Capital Management LLC grew its position in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock worth $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Nordea Investment Management AB raised its position in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after purchasing an additional 4,688 shares during the last quarter. Vanguard Group Inc. grew its position in 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 stake in Blackstone by 6.1% in the third quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager's stock valued at $139,302,000 after purchasing an additional 51,897 shares during the period. Institutional investors and hedge funds 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 stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Shares of NYSE BX traded up $3.89 during trading on Monday, reaching $131.07. The company had a trading volume of 2,092,153 shares, compared to its average volume of 4,610,078. 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 stock has a market capitalization of $95.60 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock has a 50-day moving average price of $149.11 and a two-hundred day moving average price of $165.71.

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 (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, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced 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 positive change from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. 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. Bank of America reduced their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, TD Cowen cut their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $157.22.

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.