State of Tennessee Department of Treasury Has $48.73 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

State of Tennessee Department of Treasury decreased its position in Blackstone Inc. (NYSE:BX - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 282,637 shares of the asset manager's stock after selling 12,166 shares during the quarter. State of Tennessee Department of Treasury's holdings in Blackstone were worth $48,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BX. Avidian Wealth Enterprises LLC raised its stake in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after buying an additional 59 shares in the last quarter. McIlrath & Eck LLC lifted 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 acquiring an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock worth $1,970,000 after purchasing an additional 62 shares during the last quarter. McAdam LLC lifted its stake in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after purchasing an additional 63 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after buying an additional 63 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BX. Morgan Stanley reduced their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $154.82.

Blackstone Stock Performance

BX traded down $1.75 on Friday, hitting $132.80. The company had a trading volume of 4,663,062 shares, compared to its average volume of 4,783,892. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock has a market cap of $96.87 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. 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's fifty day moving average price is $142.23 and its 200 day moving average price is $164.09.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the business earned $0.98 EPS. Equities analysts predict that Blackstone Inc. will post 5.87 earnings per share 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 given a $0.93 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.80%. Blackstone's dividend payout ratio is 112.05%.

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.