AlTi Global Inc. Buys Shares of 1,187 Blackstone Inc. (NYSE:BX)

AlTi Global Inc. purchased a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,187 shares of the asset manager’s stock, valued at approximately $205,000.

Several other hedge funds have also added to or reduced their stakes in the business. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the 4th quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cowen reissued a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. UBS Group cut their price target on shares of Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $154.82.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This represents a 24,898.76 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 3.2 %

Shares of BX opened at $137.62 on Monday. The firm has a 50 day simple moving average of $138.89 and a two-hundred day simple moving average of $163.32. The company has a market cap 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. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. 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 (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the prior year, the company earned $0.98 earnings per share. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a $0.93 dividend. The ex-dividend date is Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.70%. Blackstone’s dividend payout ratio is presently 112.05%.

Blackstone 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.