Annis Gardner Whiting Capital Advisors LLC Invests $50,000 in Blackstone Inc. (NYSE:BX)

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BXFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 470 shares of the asset manager’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BX. Norges Bank acquired a new stake in Blackstone in the fourth quarter worth about $510,355,000. Moneta Group Investment Advisors LLC increased its position in Blackstone by 96,256.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,790,996 shares of the asset manager’s stock worth $429,634,000 after purchasing an additional 5,784,986 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Blackstone in the third quarter worth about $190,920,000. Charles Schwab Investment Management Inc. grew its position in shares of Blackstone by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock worth $1,588,433,000 after buying an additional 1,744,652 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Blackstone by 54.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,675,429 shares of the asset manager’s stock worth $500,925,000 after buying an additional 1,649,486 shares during the period. 63.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Blackstone from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Wednesday, December 20th. Finally, The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $115.00 to $128.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $117.81.

Check Out Our Latest Stock Analysis on BX

Blackstone Price Performance

Shares of BX opened at $127.68 on Friday. The business has a 50-day moving average of $123.13 and a 200-day moving average of $110.40. Blackstone Inc. has a 1 year low of $76.19 and a 1 year high of $133.53. The company has a market capitalization of $90.72 billion, a price-to-earnings ratio of 69.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.84.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter last year, the company earned $1.07 earnings per share. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.95 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Monday, February 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.94%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

Insider Buying and Selling

In other news, CAO David Payne sold 5,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $128.21, for a total value of $705,155.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,781 shares in the company, valued at approximately $6,126,002.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO David Payne sold 5,500 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $128.21, for a total value of $705,155.00. Following the completion of the sale, the chief accounting officer now owns 47,781 shares of the company’s stock, valued at approximately $6,126,002.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 49,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 83,352 shares of company stock worth $10,668,224 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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