Blackstone Inc. (NYSE:BX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 168,056 shares of the asset manager's stock after selling 3,494 shares during the period. Gabelli Funds LLC's holdings in Blackstone were worth $28,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bridgewater Associates LP bought a new stake in Blackstone during the 4th quarter valued at $795,000. Guggenheim Capital LLC increased its position in Blackstone by 5.5% during the 4th quarter. Guggenheim Capital LLC now owns 189,913 shares of the asset manager's stock valued at $32,745,000 after purchasing an additional 9,872 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Blackstone during the fourth quarter valued at approximately $2,150,000. Broyhill Asset Management bought a new stake in Blackstone during the 4th quarter valued at $915,000. Finally, Belpointe Asset Management LLC lifted its stake in shares of Blackstone by 24.7% during the 4th quarter. Belpointe Asset Management LLC now owns 18,779 shares of the asset manager's stock worth $3,238,000 after purchasing an additional 3,714 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

NYSE BX traded up $0.88 on Friday, hitting $130.26. The company had a trading volume of 4,576,278 shares, compared to its average volume of 3,711,992. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market capitalization of $95.01 billion, a PE ratio of 35.88, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company's fifty day moving average price is $145.13 and its 200-day moving average price is $164.76.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the company earned $0.98 EPS. As a group, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.86%. Blackstone's payout ratio is presently 158.68%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target 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. Morgan Stanley cut their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Citigroup lowered their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Finally, TD Cowen cut their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average target price of $155.72.

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.