Janus Henderson Group PLC increased its position in Blackstone Inc. (NYSE:BX – Free Report) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,252,293 shares of the asset manager’s stock after purchasing an additional 19,429 shares during the period. Blackstone accounts for 0.6% of Janus Henderson Group PLC’s portfolio, making the stock its 27th biggest position. Janus Henderson Group PLC owned approximately 1.12% of Blackstone worth $1,259,169,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in Blackstone in the third quarter worth $30,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter worth $30,000. Family CFO Inc purchased a new stake in shares of Blackstone in the fourth quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Blackstone in the fourth quarter worth $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on BX shares. The Goldman Sachs Group cut their target price on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Morgan Stanley cut their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Barclays cut their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Jefferies Financial Group increased their target price on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Rothschild & Co Redburn dropped their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.86.
Blackstone Trading Down 2.3%
Blackstone stock opened at $124.89 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock has a market capitalization of $92.78 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.59. The business’s fifty day moving average is $120.76 and its 200 day moving average is $130.56.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 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 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% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. On average, sell-side analysts predict that Blackstone Inc. will post 5.9 EPS for the current year.
Blackstone Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.
Insider Transactions at Blackstone
In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the company’s stock in a transaction on Friday, March 20th. The shares were acquired at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. This trade represents a 18.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s 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 transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 12,355,303 shares of company stock valued at $264,789,896. Company insiders own 1.00% of the company’s stock.
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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