Mariner LLC grew its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,173 shares of the asset manager’s stock after purchasing an additional 9,369 shares during the quarter. Mariner LLC owned about 0.06% of Blackstone worth $71,856,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in Blackstone in the third quarter worth $30,000. Strive Asset Management LLC acquired a new position in shares of Blackstone during the third quarter valued at $30,000. Family CFO Inc acquired a new position in shares of Blackstone during the fourth quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $28,000. Finally, Richardson Financial Services Inc. bought a new stake in Blackstone in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.
Insider Transactions at Blackstone
In related news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the firm’s 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 acquisition, the insider 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 12,355,303 shares of company stock valued at $264,789,896 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Blackstone Trading Up 1.5%
Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for 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 for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.
Analyst Ratings Changes
A number of research firms recently commented on BX. Piper Sandler upped their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Barclays reduced their price objective on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Morgan Stanley reduced their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada initiated coverage on Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.
Check Out Our Latest Research Report on BX
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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