Blackstone Inc. (NYSE:BX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,788 shares of the asset manager’s stock after acquiring an additional 8,210 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Blackstone were worth $8,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Coppell Advisory Solutions LLC purchased a new stake in Blackstone in the 2nd quarter valued at approximately $25,000. Exchange Traded Concepts LLC lifted its stake in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. Family CFO Inc purchased a new stake in Blackstone in the 3rd quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new stake in Blackstone in the 4th quarter valued at approximately $33,000. Finally, Provence Wealth Management Group purchased a new stake in Blackstone in the 3rd quarter valued at approximately $36,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Wells Fargo & Company upped their price objective on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Finally, Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $116.00 to $124.00 in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $119.92.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 49,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.1 %

Shares of NYSE BX opened at $123.19 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $126.81 and a 200 day moving average price of $117.64. The company has a market cap of $88.04 billion, a P/E ratio of 67.32, a P/E/G ratio of 0.99 and a beta of 1.51. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same period in the prior year, the company posted $1.07 EPS. Research analysts anticipate that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were given a dividend of $0.94 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. Blackstone’s dividend payout ratio (DPR) is presently 205.46%.

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.