1,801 Shares in Blackstone Inc. (NYSE:BX) Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,801 shares of the asset manager’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. Vanguard Group Inc. grew its position in Blackstone by 30.2% during 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. International Assets Investment Management LLC raised its stake in Blackstone by 13,816.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after acquiring an additional 3,597,828 shares during the last quarter. Northern Trust Corp grew its stake in Blackstone by 43.9% during the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after purchasing an additional 2,098,150 shares during the last quarter. Invesco Ltd. raised its stake in shares of Blackstone by 255.2% in the third quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock worth $289,073,000 after purchasing an additional 1,938,593 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Blackstone in the third quarter valued at approximately $190,920,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the transaction, the director now directly owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction 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 sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,587,168 shares of company stock worth $37,816,476. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.3 %

NYSE:BX traded up $0.32 on Tuesday, hitting $121.53. The stock had a trading volume of 3,233,853 shares, compared to its average volume of 3,682,961. The stock has a market cap of $86.85 billion, a price-to-earnings ratio of 42.94, a PEG ratio of 0.98 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $124.96 and a two-hundred day moving average price of $119.45. Blackstone Inc. has a 1-year low of $80.05 and a 1-year high of $133.56.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. Equities research analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays reaffirmed an “equal weight” rating and issued a $125.00 price objective (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $123.65.

Blackstone Company 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.