Gamco Investors INC. ET AL Has $19.55 Million Position in Blackstone Inc. (NYSE:BX)

Gamco Investors INC. ET AL trimmed its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,385 shares of the asset manager's stock after selling 5,580 shares during the quarter. Gamco Investors INC. ET AL's holdings in Blackstone were worth $19,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc boosted its position in shares of Blackstone by 0.7% in the third quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager's stock valued at $1,720,000 after acquiring an additional 80 shares during the period. McIlrath & Eck LLC boosted its holdings in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after purchasing an additional 62 shares during the period. Virtu Financial LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $5,163,000. Stock Yards Bank & Trust Co. lifted its stake in shares of Blackstone by 2.5% in the third quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager's stock valued at $3,961,000 after buying an additional 624 shares during the period. Finally, World Investment Advisors LLC increased its stake in Blackstone by 1.8% during the third quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager's stock valued at $10,646,000 after acquiring an additional 1,238 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 0.7 %

Shares of Blackstone stock traded up $0.88 during trading on Friday, reaching $130.26. 4,576,278 shares of the company were exchanged, compared to its average volume of 3,711,992. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The business has a 50-day moving average price of $145.13 and a 200-day moving average price of $164.76. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $95.01 billion, a price-to-earnings ratio of 35.88, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results 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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

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

Wall Street Analyst Weigh In

BX has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Citigroup lowered their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Piper Sandler reduced 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. Finally, Barclays cut their price target on shares of Blackstone from $186.00 to $129.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $155.72.

Insider Buying and Selling

In other news, Director Ruth Porat bought 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

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.