Fund Advisors of America Inc FL bought a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,013 shares of the asset manager’s stock, valued at approximately $927,000.
Several other large investors have also recently made changes to their positions in the stock. Jain Global LLC acquired a new position in shares of Blackstone during the third quarter valued at $9,116,000. Fayez Sarofim & Co grew its position in Blackstone by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after buying an additional 24,237 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Blackstone by 20.4% during the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after buying an additional 142,479 shares in the last quarter. Close Asset Management Ltd lifted its stake in shares of Blackstone by 16,035.1% in the 3rd 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 during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Blackstone by 2.1% in the third quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after acquiring an additional 18,339 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Blackstone
In other news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction 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 completion of the sale, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired 9,487,234 shares of company stock valued at $189,789,892 in the last ninety days. 1.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on Blackstone
Blackstone Stock Performance
Shares of BX stock opened at $123.78 on Friday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The stock’s 50-day moving average is $121.11 and its two-hundred day moving average is $130.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $91.95 billion, a P/E ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.11 earnings per share. Analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. Blackstone’s dividend payout ratio is currently 118.67%.
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.
Read More
- Five stocks we like better than Blackstone
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.
