225,542 Shares in Blackstone Inc. $BX Acquired by BROOKFIELD Corp ON

BROOKFIELD Corp ON acquired a new stake in Blackstone Inc. (NYSE:BXFree Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 225,542 shares of the asset manager’s stock, valued at approximately $25,935,000.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Vanguard Group Inc. increased its stake in Blackstone by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after buying an additional 840,258 shares during the period. Morgan Stanley boosted its position in Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after buying an additional 636,613 shares during the last quarter. State Street Corp increased its position in shares of Blackstone by 0.6% during the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after acquiring an additional 179,213 shares during the last quarter. Norges Bank acquired a new position in shares of Blackstone in the fourth quarter worth about $1,275,747,000. Finally, Northern Trust Corp boosted its holdings in Blackstone by 4.7% in the third quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after purchasing an additional 329,379 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $129.72 on Monday. The stock has a market capitalization of $96.36 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.41 and a beta of 1.58. The firm’s 50-day moving average price is $120.33 and its two-hundred day moving average price is $124.58. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $1.29 dividend. The ex-dividend date is Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. Blackstone’s dividend payout ratio (DPR) is 103.80%.

Insider Activity at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 10,252,345 shares of company stock valued at $209,789,893. Company insiders own 1.00% of the company’s stock.

Trending Headlines about Blackstone

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Analyst Ratings Changes

BX has been the subject of several research analyst reports. 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Morgan Stanley reduced their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Barclays boosted their price target on Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.76.

Check Out Our Latest Analysis on Blackstone

Blackstone Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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