Great Lakes Advisors LLC Has $424,000 Stock Position in Blackstone Inc. (NYSE:BX)

Great Lakes Advisors LLC grew its stake in Blackstone Inc. (NYSE:BX) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,238 shares of the asset manager’s stock after purchasing an additional 142 shares during the period. Great Lakes Advisors LLC’s holdings in Blackstone were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC increased its holdings in Blackstone by 914.4% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock valued at $2,325,000 after purchasing an additional 19,558 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Blackstone by 59.7% during the third quarter. Larson Financial Group LLC now owns 4,119 shares of the asset manager’s stock valued at $441,000 after purchasing an additional 1,540 shares during the last quarter. US Bancorp DE raised its position in Blackstone by 2.9% in the 3rd quarter. US Bancorp DE now owns 155,672 shares of the asset manager’s stock worth $16,679,000 after purchasing an additional 4,448 shares during the last quarter. Corient Private Wealth LLC boosted its position in Blackstone by 2.4% in the 3rd quarter. Corient Private Wealth LLC now owns 329,229 shares of the asset manager’s stock valued at $35,278,000 after buying an additional 7,700 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Blackstone by 12.7% during the third quarter. Signaturefd LLC now owns 12,626 shares of the asset manager’s stock worth $1,353,000 after acquiring an additional 1,425 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Barclays reiterated an “equal weight” rating and issued a $125.00 target price (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Piper Sandler lowered their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their price target on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Finally, TD Cowen dropped their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Stock Down 0.8 %

BX stock opened at $126.70 on Thursday. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.05 and a beta of 1.52. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $81.06 and a twelve month high of $133.56. The business has a 50 day moving average price of $124.91 and a two-hundred day moving average price of $121.68.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.62%. Blackstone’s dividend payout ratio is currently 117.31%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 219 shares of Blackstone stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Blackstone news, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.