Bayesian Capital Management LP Purchases Shares of 9,596 Blackstone Inc. (NYSE:BX)

Bayesian Capital Management LP bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,596 shares of the asset manager’s stock, valued at approximately $1,655,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lord Abbett & CO. LLC bought a new position in Blackstone during the fourth quarter valued at approximately $63,109,000. Wealthcare Capital Partners LLC purchased a new stake in Blackstone during the fourth quarter valued at about $2,102,000. Highland Capital Management LLC increased its holdings in shares of Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after buying an additional 15,205 shares during the period. Nordea Investment Management AB grew its position in Blackstone by 8.8% during the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock worth $10,053,000 after acquiring an additional 4,688 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction on 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 acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 3.2 %

BX stock opened at $137.62 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock has a market capitalization of $100.38 billion, a P/E ratio of 37.91, a P/E/G ratio of 1.07 and a beta of 1.67. The business has a fifty day moving average price of $138.89 and a 200-day moving average price of $163.32.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities reissued a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a research note on Thursday, April 24th. Bank of America cut their price objective on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. UBS Group dropped their price target on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley decreased their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $154.82.

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.