Next Capital Management LLC Has $653,000 Holdings in Blackstone Inc. (NYSE:BX)

Next Capital Management LLC cut its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 34.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,786 shares of the asset manager's stock after selling 1,960 shares during the quarter. Next Capital Management LLC's holdings in Blackstone were worth $653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. GM Advisory Group LLC boosted its position in Blackstone by 26.7% during the 4th quarter. GM Advisory Group LLC now owns 2,807 shares of the asset manager's stock worth $484,000 after acquiring an additional 592 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Blackstone by 13.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 17,663 shares of the asset manager's stock worth $3,043,000 after acquiring an additional 2,127 shares during the last quarter. Bestgate Wealth Advisors LLC acquired a new position in Blackstone during the 4th quarter worth approximately $335,000. Stokes Family Office LLC acquired a new position in Blackstone during the 4th quarter worth approximately $598,000. Finally, Compass Ion Advisors LLC boosted its position in Blackstone by 0.5% during the 4th quarter. Compass Ion Advisors LLC now owns 25,900 shares of the asset manager's stock worth $4,466,000 after acquiring an additional 133 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. Citigroup reiterated a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. UBS Group upgraded Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research note on Monday, March 17th. Finally, TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and upped their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $171.13.

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Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

BX traded down $0.10 during trading hours on Friday, reaching $148.65. The company's stock had a trading volume of 8,381,116 shares, compared to its average volume of 3,280,093. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $108.43 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company's 50-day moving average is $163.53 and its 200-day moving average is $167.49. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.87%. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

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.