DAVENPORT & Co LLC Has $10.49 Million Holdings in Blackstone Inc. (NYSE:BX)

DAVENPORT & Co LLC grew its stake in Blackstone Inc. (NYSE:BXFree Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,153 shares of the asset manager’s stock after purchasing an additional 170 shares during the period. DAVENPORT & Co LLC’s holdings in Blackstone were worth $10,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after purchasing an additional 14,396,655 shares during the last quarter. Morgan Stanley grew its position in Blackstone by 3.7% in the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock worth $1,668,954,000 after purchasing an additional 798,734 shares during the last quarter. State Street Corp grew its position in Blackstone by 2.1% in the 1st quarter. State Street Corp now owns 16,157,334 shares of the asset manager’s stock worth $1,419,249,000 after purchasing an additional 332,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Blackstone by 13.3% in 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 purchasing an additional 1,744,652 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Blackstone by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 7,925,167 shares of the asset manager’s stock valued at $695,952,000 after acquiring an additional 522,561 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the topic of several recent research reports. Bank of America lifted their target price on shares of Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. Finally, TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $119.25.

Check Out Our Latest Stock Report on BX

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruth Porat acquired 232 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the transaction, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. Insiders sold 2,587,168 shares of company stock worth $37,816,476 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 3.6 %

Shares of NYSE BX opened at $126.32 on Wednesday. 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 company has a market cap of $90.27 billion, a PE ratio of 69.03, a P/E/G ratio of 1.05 and a beta of 1.51. The company has a 50-day moving average of $126.33 and a two-hundred day moving average of $116.41. Blackstone Inc. has a 1-year low of $79.29 and a 1-year high of $133.56.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.07 earnings per share. As a group, equities analysts expect that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is currently 205.46%.

Blackstone Company 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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