Blackstone Inc. (NYSE:BX) is Fairview Capital Investment Management LLC’s 3rd Largest Position

Fairview Capital Investment Management LLC cut its position in Blackstone Inc. (NYSE:BX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,190 shares of the asset manager’s stock after selling 37,182 shares during the period. Blackstone accounts for 6.1% of Fairview Capital Investment Management LLC’s holdings, making the stock its 3rd largest position. Fairview Capital Investment Management LLC’s holdings in Blackstone were worth $116,761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Blackstone by 3.0% in 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 in the last quarter. Northern Trust Corp grew its holdings 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 in the last quarter. Invesco Ltd. increased its position in Blackstone by 6.6% during the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock worth $1,032,400,000 after purchasing an additional 371,677 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $974,448,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BX shares. JMP Securities reiterated a “market outperform” rating and issued a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. UBS Group cut their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $154.82.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,660,538 shares of company stock valued at $24,981,930. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $139.82 on Friday. The stock’s 50-day simple moving average is $137.09 and its 200-day simple moving average is $162.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market capitalization of $102.02 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given 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 2.66%. Blackstone’s dividend payout ratio (DPR) is presently 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.