Signaturefd LLC Acquires 7,355 Shares of Blackstone Inc. $BX

Signaturefd LLC raised its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 32.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,916 shares of the asset manager’s stock after purchasing an additional 7,355 shares during the quarter. Signaturefd LLC’s holdings in Blackstone were worth $4,611,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jain Global LLC bought a new position in shares of Blackstone during the third quarter worth $9,116,000. Fayez Sarofim & Co raised its stake in Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after buying an additional 24,237 shares during the period. Close Asset Management Ltd lifted its holdings in Blackstone by 16,035.1% during the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Blackstone by 20.4% in 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 in the last quarter. Finally, Whittier Trust Co. raised its position in shares of Blackstone by 2.1% during the third quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock worth $58,337,000 after purchasing an additional 7,053 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of BX opened at $113.01 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The firm has a fifty day simple moving average of $120.88 and a 200 day simple moving average of $143.76. The stock has a market capitalization of $83.87 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 0.90 and a beta of 1.74.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s quarterly revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.49 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a dividend yield of 5.3%. Blackstone’s payout ratio is presently 153.61%.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

Analysts Set New Price Targets

BX has been the subject of a number of research reports. HSBC lowered their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. BNP Paribas Exane lowered their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Piper Sandler cut their price objective on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Bank of America lowered their target price on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group cut their price target on Blackstone from $166.00 to $158.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $164.00.

Get Our Latest Analysis on Blackstone

Insider Transactions at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the acquisition, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. This represents a 18.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the transaction, the insider owned 25,832 shares in the company, valued at approximately $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

About Blackstone

(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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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