Blackstone Inc. (NYSE:BX) Stock Position Raised by MetLife Investment Management LLC

MetLife Investment Management LLC grew its position in Blackstone Inc. (NYSE:BX) by 1.7% 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 222,907 shares of the asset manager’s stock after buying an additional 3,779 shares during the quarter. MetLife Investment Management LLC’s holdings in Blackstone were worth $38,434,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Avidian Wealth Enterprises LLC lifted its holdings in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares in the last quarter. McIlrath & Eck LLC grew its stake in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Blackstone by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after purchasing an additional 62 shares in the last quarter. McAdam LLC grew its position in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 63 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock worth $1,903,000 after buying an additional 63 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Shares of BX stock opened at $130.26 on Friday. The stock has a 50 day moving average of $145.13 and a two-hundred day moving average of $164.85. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $95.01 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last announced 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). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.86%. Blackstone’s dividend payout ratio is currently 158.68%.

Wall Street Analyst Weigh In

BX has been the subject of several recent research reports. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Citigroup cut their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, Bank of America cut their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $155.72.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.