Brian Low Financial Group LLC boosted its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 64.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,529 shares of the asset manager’s stock after acquiring an additional 5,678 shares during the quarter. Blackstone accounts for approximately 1.1% of Brian Low Financial Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Brian Low Financial Group LLC’s holdings in Blackstone were worth $1,671,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of BX. Jain Global LLC bought a new position in Blackstone during the 3rd quarter worth $9,116,000. Fayez Sarofim & Co boosted its position in shares of Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares during the period. Natixis Advisors LLC increased its position in Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after acquiring an additional 142,479 shares during the period. Close Asset Management Ltd raised its stake in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after purchasing an additional 1,133,197 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Blackstone by 2.1% in the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares during the period. 70.00% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on BX. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Morgan Stanley cut their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Jefferies Financial Group increased their target price on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Piper Sandler boosted their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and an average target price of $150.86.
Insiders Place Their Bets
In related news, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, with a total value of $43,679.20. Following the purchase, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 10,252,345 shares of company stock worth $209,789,893 over the last 90 days. Insiders own 1.00% of the company’s stock.
Blackstone Stock Down 6.0%
NYSE BX opened at $112.90 on Thursday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The business has a fifty day moving average price of $121.16 and a two-hundred day moving average price of $129.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $83.87 billion, a PE ratio of 28.87, a PEG ratio of 1.30 and a beta of 1.59.
Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. Equities analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.
About Blackstone
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.
Featured Articles
- Five stocks we like better than Blackstone
- Why KB Home Could Reward Patient Investors Later
- Meta’s Internal Turmoil: Morale Nears 20-Year Low at the Wrong Time
- Tesla’s New NHTSA Probe Lands at the Worst Possible Time
- Nano Nuclear’s AI Data Center Deal Puts the Stock Back in Focus
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.
