DekaBank Deutsche Girozentrale Increases Stake in Blackstone Inc. $BX

DekaBank Deutsche Girozentrale boosted its position in shares of Blackstone Inc. (NYSE:BX) by 5.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,044 shares of the asset manager’s stock after buying an additional 9,249 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Blackstone were worth $27,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Blackstone during the 1st quarter valued at $25,000. Family CFO Inc bought a new stake in Blackstone during the 2nd quarter valued at $28,000. Wealth Preservation Advisors LLC bought a new stake in Blackstone during the 1st quarter valued at $28,000. Anderson Financial Strategies LLC bought a new stake in Blackstone during the 1st quarter valued at $28,000. Finally, Livelsberger Financial Advisory bought a new stake in Blackstone during the 2nd quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 0.2%

Shares of Blackstone stock opened at $161.82 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The company has a 50-day moving average of $170.93 and a 200 day moving average of $155.32. The firm has a market cap of $119.28 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.31 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $2.49 billion for the quarter. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BNP Paribas Exane upped their price objective on shares of Blackstone from $166.00 to $178.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Piper Sandler decreased their price objective on shares of Blackstone from $181.00 to $173.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Wells Fargo & Company upped their price objective on shares of Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.79.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 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.