Davidson Kahn Capital Management LLC Has $1.54 Million Stock Position in Blackstone Inc. (NYSE:BX)

Davidson Kahn Capital Management LLC lifted its position in Blackstone Inc. (NYSE:BX) by 40.9% in the first quarter, HoldingsChannel.com reports. The firm owned 11,043 shares of the asset manager’s stock after acquiring an additional 3,203 shares during the period. Blackstone comprises 1.2% of Davidson Kahn Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Davidson Kahn Capital Management LLC’s holdings in Blackstone were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. Howard Capital Management Inc. lifted its position in shares of Blackstone by 6.1% during the 4th quarter. Howard Capital Management Inc. now owns 4,637 shares of the asset manager’s stock worth $800,000 after buying an additional 265 shares during the period. Forvis Mazars Wealth Advisors LLC grew its position in Blackstone by 4.4% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 2,365 shares of the asset manager’s stock valued at $408,000 after acquiring an additional 100 shares during the period. MONECO Advisors LLC lifted its holdings in shares of Blackstone by 23.7% during the fourth quarter. MONECO Advisors LLC now owns 7,056 shares of the asset manager’s stock valued at $1,217,000 after acquiring an additional 1,350 shares during the period. Finally, World Equity Group Inc. acquired a new stake in shares of Blackstone during the 4th quarter worth about $289,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of Blackstone stock opened at $138.30 on Tuesday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $100.91 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 1.26 and a beta of 1.65. The firm has a fifty day moving average of $137.39 and a two-hundred day moving average of $153.29.

Blackstone (NYSE:BX) last posted 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 return on equity of 19.84% and a net margin of 19.83%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Piper Sandler decreased their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a research note 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 for the company in a report on Tuesday, April 22nd. Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Citigroup lowered their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $155.65.

Insider Buying and Selling

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now owns 1,666,667 shares of the company’s stock, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat bought 237 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

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.