Vantage Investment Partners LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 38.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,062 shares of the asset manager’s stock after acquiring an additional 35,557 shares during the quarter. Vantage Investment Partners LLC’s holdings in Blackstone were worth $14,611,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Redwood Financial Network Corp grew its position in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its position in shares of Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after acquiring an additional 69 shares during the period. Parcion Private Wealth LLC increased its position in shares of Blackstone by 0.6% in the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 70 shares during the period. Trivium Point Advisory LLC grew its stake in Blackstone by 2.6% during the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management raised its position in shares of Blackstone by 2.1% in the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Insider Buying and Selling
In other news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat acquired 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Blackstone Price Performance
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the business posted $1.11 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.
Blackstone Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.
Blackstone News Summary
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Citizens JMP lifted its price target on Blackstone to $165 from $190 and kept an “outperform” view, signaling confidence that the shares still have meaningful upside from current levels. Blackstone (NYSE:BX) Given New $165.00 Price Target at Citizens Jmp
- Positive Sentiment: Blackstone and TPG are reportedly seeking more than $4 billion for Hologic’s surgical unit, underscoring continued private-equity dealmaking activity and potential value creation from large asset sales or acquisitions. Blackstone, TPG seek over $4 billion for Hologic’s surgical unit, FT says
- Positive Sentiment: Reports that Barclays is preparing roughly $875 million of debt financing tied to a Blackstone takeover highlight active transaction flow that can support fees and investment returns for the firm. Market Chatter: Barclays Readies $875 Million Debt Sale for Blackstone’s Senior Takeover
- Neutral Sentiment: Barclays cut Blackstone’s price target to $119 from $124 and kept an “equal weight” rating, reflecting a more cautious near-term view even as the target remains close to the current share price. Blackstone (NYSE:BX) Price Target Lowered to $119.00 at Barclays
- Neutral Sentiment: A separate report said Apollo and Blackstone helped turn Broadcom’s and Anthropic’s AI chip financing into debt for other investors, which is notable but not directly a clear positive or negative catalyst for BX shares. Apollo and Blackstone just turned Broadcom, Anthropic’s AI chip bet into somebody else’s debt
Analyst Upgrades and Downgrades
Several analysts recently issued reports on BX shares. Jefferies Financial Group increased their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler raised their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Rothschild & Co Redburn lowered their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Weiss Ratings lowered Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.10.
Check Out Our Latest Report on Blackstone
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.
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