Obermeyer Wealth Partners Has $508,000 Holdings in Blackstone Inc. (NYSE:BX)

Obermeyer Wealth Partners lifted its stake in Blackstone Inc. (NYSE:BX) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,947 shares of the asset manager’s stock after buying an additional 97 shares during the period. Obermeyer Wealth Partners’ holdings in Blackstone were worth $508,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the last quarter. Geode Capital Management LLC boosted its position in Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock valued at $2,637,266,000 after buying an additional 444,887 shares during the last quarter. Northern Trust Corp boosted its position in Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock valued at $1,209,707,000 after buying an additional 681,512 shares during the last quarter. Invesco Ltd. boosted its position in Blackstone by 6.6% in the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock valued at $1,032,400,000 after buying an additional 371,677 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Blackstone in the 4th quarter worth $974,448,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. UBS Group cut their price objective on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Cowen reiterated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $154.82.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director now owns 37,067 shares of the company’s stock, valued at $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,660,538 shares of company stock worth $24,981,930. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $148.57 on Wednesday. The business’s fifty day simple moving average is $136.86 and its 200 day simple moving average is $161.96. The firm has a market capitalization of $108.40 billion, a P/E ratio of 40.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.50%. Blackstone’s payout ratio is 112.05%.

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.