Barr E S & Co. lowered its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 495,254 shares of the asset manager’s stock after selling 5,256 shares during the period. Blackstone accounts for about 4.0% of Barr E S & Co.’s investment portfolio, making the stock its 8th biggest holding. Barr E S & Co.’s holdings in Blackstone were worth $76,338,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC purchased a new stake in Blackstone during the third quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at about $30,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone during the third quarter valued at about $30,000. Family CFO Inc purchased a new stake in shares of Blackstone during the fourth quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on BX shares. Royal Bank Of Canada set a $173.00 price objective on Blackstone in a report on Friday, April 24th. Morgan Stanley reduced their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Argus reduced their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Citizens Jmp reduced their price target on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Blackstone from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $151.36.
Blackstone Stock Performance
NYSE BX opened at $117.96 on Friday. The stock has a 50-day simple moving average of $117.10 and a two-hundred day simple moving average of $134.76. The firm has a market capitalization of $87.63 billion, a P/E ratio of 30.17, a PEG ratio of 1.29 and a beta of 1.63. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, equities analysts forecast that Blackstone Inc. will post 5.89 earnings per share for the current year.
Blackstone Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. Blackstone’s payout ratio is presently 118.67%.
Insider Buying and Selling
In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of Blackstone stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the purchase, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 4,015,297 shares of company stock valued at $105,053,996 and have sold 9,128,660 shares valued at $46,457,920. Corporate insiders own 1.00% of the company’s stock.
Blackstone Company Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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