Gerber Kawasaki Wealth & Investment Management Purchases 2,538 Shares of Blackstone Inc. (NYSE:BX)

Gerber Kawasaki Wealth & Investment Management raised its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,415 shares of the asset manager's stock after purchasing an additional 2,538 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Blackstone were worth $12,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BX. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the fourth quarter worth about $33,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone during the fourth quarter worth about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 0.6 %

BX traded up $0.75 during trading on Monday, reaching $133.61. 3,608,491 shares of the stock traded hands, compared to its average volume of 3,763,630. 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 stock has a market capitalization of $97.46 billion, a PE ratio of 36.81, a P/E/G ratio of 1.07 and a beta of 1.61. The stock's 50-day moving average is $140.89 and its 200 day moving average is $164.05. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS 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 for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company posted $0.98 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business 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. The ex-dividend date is Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. Blackstone's dividend payout ratio is currently 112.05%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BX. JMP Securities reiterated a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Barclays increased their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, UBS Group decreased their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $154.82.

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.