Blackstone Inc. (NYSE:BX) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 91.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,685 shares of the asset manager’s stock after purchasing an additional 19,930 shares during the period. Tower Research Capital LLC TRC’s holdings in Blackstone were worth $7,187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Blackstone by 1.3% during 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 acquiring an additional 889,286 shares in the last quarter. Geode Capital Management LLC increased its stake in Blackstone by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock valued at $2,637,266,000 after purchasing an additional 444,887 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of 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 period. Norges Bank acquired a new stake in Blackstone during the fourth quarter worth about $974,448,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Blackstone by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock worth $697,464,000 after acquiring an additional 113,732 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $130.26 on Friday. The firm has a market cap of $95.01 billion, a P/E ratio of 35.88, a PEG ratio of 1.07 and a beta of 1.61. The stock’s 50-day moving average is $145.13 and its two-hundred day moving average is $164.85. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week 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 posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.86%. Blackstone’s payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Piper Sandler reduced their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. Barclays decreased their target price on shares of Blackstone from $186.00 to $129.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley decreased their price objective on Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $155.72.

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.