Blackstone Inc. (NYSE:BX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,351 shares of the asset manager’s stock after selling 1,090 shares during the quarter. Corebridge Financial Inc.’s holdings in Blackstone were worth $32,993,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. State Street Corp grew its stake in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Geode Capital Management LLC lifted its stake in Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Blackstone by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock valued at $697,464,000 after acquiring an additional 113,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after purchasing an additional 116,367 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. Wells Fargo & Company cut their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Monday, March 17th. Finally, StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.13.

Blackstone Stock Performance

NYSE BX opened at $148.65 on Monday. The company has a fifty day moving average of $163.53 and a two-hundred day moving average of $167.49. 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 Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a market capitalization of $108.43 billion, a PE ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. Blackstone’s payout ratio is currently 158.68%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.