Ossiam Boosts Holdings in Blackstone Inc. (NYSE:BX)

Ossiam lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 75.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,571 shares of the asset manager's stock after purchasing an additional 13,109 shares during the quarter. Ossiam's holdings in Blackstone were worth $5,271,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Blackstone in the fourth quarter valued at approximately $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Performance

BX stock traded up $2.14 during mid-day trading on Wednesday, hitting $127.05. 5,617,319 shares of the company were exchanged, compared to its average volume of 3,738,349. The business has a 50 day simple moving average of $143.60 and a 200-day simple moving average of $164.45. The stock has a market capitalization of $92.67 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts forecast 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 given a dividend of $0.93 per share. The ex-dividend date is Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.93%. Blackstone's dividend payout ratio (DPR) is presently 112.05%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent research reports. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. JMP Securities upgraded Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler reduced their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone has a consensus rating of "Moderate Buy" and a consensus price target of $153.72.

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.