Wellington Management Group LLP Has $28.18 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Wellington Management Group LLP cut its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,425 shares of the asset manager's stock after selling 83,573 shares during the quarter. Wellington Management Group LLP's holdings in Blackstone were worth $28,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Blackstone in the 4th quarter worth about $974,448,000. Raymond James Financial Inc. purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $316,257,000. Vanguard Group Inc. increased its holdings in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Blackstone by 2,057.7% during the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock valued at $145,653,000 after purchasing an additional 805,604 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock worth $167,825,000 after purchasing an additional 512,165 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Insider Activity

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, for a total transaction 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 trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Tuesday. TD Cowen decreased their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. UBS Group upgraded Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price target on the stock in a report on Monday, March 17th. Finally, 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. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus price target of $157.22.

Blackstone Stock Performance

BX stock traded down $0.26 during mid-day trading on Friday, reaching $127.19. 7,805,964 shares of the stock traded hands, compared to its average volume of 3,690,525. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. 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 $92.77 billion, a PE ratio of 35.04, a P/E/G ratio of 1.07 and a beta of 1.61. The business has a 50-day moving average of $149.11 and a two-hundred day moving average of $165.63.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.53%. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

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.